US News 40% of US workers now earn less that 1968 minimum wage

Zakyath

Member
Are American workers paid enough? That is a topic that is endlessly debated all across this great land of ours. Unfortunately, what pretty much everyone can agree on is that American workers are not making as much as they used to after you account for inflation. Back in 1968, the minimum wage in the United States was $1.60 an hour. That sounds very small, but after you account for inflation a very different picture emerges. Using the inflation calculator that the Bureau of Labor Statistics provides, $1.60 in 1968 is equivalent to $10.74 today.

And of course the official government inflation numbers have been heavily manipulated to make inflation look much lower than it actually is, so the number for today should actually be substantially higher than $10.74, but for purposes of this article we will use $10.74. If you were to work a full-time job at $10.74 an hour for a full year (with two weeks off for vacation), you would make about $21,480 for the year.

That isn't a lot of money, but according to the Social Security Administration, 40.28% of all workers make less than $20,000 a year in America today. So that means that more than 40 percent of all U.S. workers actually make less than what a full-time minimum wage worker made back in 1968. That is how far we have fallen.

More: http://www.zerohedge.com/news/2013-08-05/40-us-workers-now-earn-less-1968-minimum-wage
 

Dave312

Censored for your safe viewing
If you were to work a full-time job at $10.74 an hour for a full year (with two weeks off for vacation), you would make about $21,480 for the year.
40.28% of all workers make less than $20,000 a year in America today
I'd wager a substantial amount of that 40.28% work part time, not full time, meaning those numbers are not comparable. So essentially the main "fact" the article is based on is a lie. Great journalism right there :rolleyes:
 

Zakyath

Member
yeah, the calculations are a bit out there, but they still say a whole lot of 40% of the worker's situations
 
General chit-chat
Help Users
  • No one is chatting at the moment.
  • The Helper The Helper:
    but yeah man you should come to Houston there is so much more opportunity here than San Antonio. Just look at all the homeless people on the Riverwalk and downtown there you cannot even walk down the street without getting mobbed them
  • The Helper The Helper:
    check out this place apparently it is the best roommate site out there roommates.com lol
  • Varine Varine:
    The homeless people reminded me of New York
  • Varine Varine:
    I'll check it out, my lease expires in like a few months so I need to figure something out.
  • Varine Varine:
    I tried to open a food truck in Sandpoint a few years ago but the city said no, then like two years later they passed new laws to encourage it and gave them all fucking tax breaks and shit. And at that point I didn't have enough money to go buy one so I was way too late to the game once other cities realized they could just bring their existing truck there, or sell their brick and mortar.
  • Varine Varine:
    I do like food trucks though, they're way more fun than restaurants and usually I also get some of that tip money there.
  • Varine Varine:
    Restaurants are really hard if you don't have a back up source of income to fund them sometimes, in my experience most owners either got really really lucky, had existing money that allowed them to buy an already successful one, or they have family money to fall back on for loans. It's few and far between to see very inspiring success stories where the person actually got it through hard work and perseverance. I thought about opening one lots and I always just end up not thinking it'll work. I would much rather just find someone that has that money and go work for them
  • The Helper The Helper:
    i am not talking about opening a brick and mortar I am talking about food trucks though I have seen some brick and mortar mexican places open up during covid that are doing good because there food is awesome!
  • The Helper The Helper:
    Food trucks are killing out here because Bars cannot open unless they sell food and the governor ok'd the use of a food truck in front as serving food
  • The Helper The Helper:
    Just not enough food trucks
  • The Helper The Helper:
    a buddy of mine just opened up a food truck and he is killing it but he is a great cook and has awesome food right in the middle of the pandemic too food trucks are immune to pandemic because they are take out in Texas you will always be able to get take out or delivery
  • The Helper The Helper:
    He is in the different food facebook groups in houston and posts videos of him making his food
  • The Helper The Helper:
    he is killing it
  • jonas jonas:
    @Varine with the restaurants, there surely is a lot of luck and hard work but most restaurants fail because they suck. Flair isn't right, economics not well thought through, food is mediocre or sucks, location is bad, etc. If you're thinking about opening one, make sure you're looking at the stories of those that would be playing at your level, don't let your hopes be dragged down by all the subpar restaurants out there.
  • jonas jonas:
    I'm a bit worried about the future of data science, there's an influx of incompetent people hired by incompetent managers, that can't last. But I'm sure smart data scientists will always be useful and hireable. Same as smart security people.
  • jonas jonas:
    My sister in law worked in a vegan food truck, the owners were also making a killing, added several trucks and opened two restaurants over 5 years
  • Ghan Ghan:
    The CompTIA stuff is pretty much crap unfortunately. The places that ask for those low-level certs aren't likely places you want to work. For IT you really want a degree, but in the meantime you need to figure out some way to learn the skills. Cybersecurity is really hot right now so competition is fierce.
  • tom_mai78101 tom_mai78101:
    I realized I don't have anything much to say, other than "Good luck!". Compared to other places, I'm just very lucky we didn't have a lot of surges of cases coming in.
  • The Helper The Helper:
    My daughter just got back from school at Georgetown TX, outside of Austin and said there were 100 cases in the last week but she also said nobody was wearing a mask anywhere so people mask up and stay safe!
    +2
  • thewrongvine thewrongvine:
    happy thanksgiving folks!
    +1
  • Ralle Ralle:
    PLOOB
  • Varine Varine:
    @Gyah Yeah I figured they aren't particularly valuable, but they'll at the least act as a baseline for some entry level work somewhere.
  • Varine Varine:
    I now see how horribly I spelled @Ghan
  • Varine Varine:
    I had a rough morning
  • The Helper The Helper:
    that field is going to explode and though there is competition there is going to be room for all levels in the coming years imho.

    Members online

    No members online now.

    Affiliates

    Hive Workshop
    Top