Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

US Wages Finally Get Back to Where They Were in 1973

thesoundingline.com

Post reply on HN
Print view View original

21–30 of 93 posts

Re: US Wages Finally Get Back to Where They Were in 1973

#21

Post by ska »

NoblePublius wrote: post #8
thfuran wrote: post #6

Earlier quoted context omitted.

Great. Now let's do college.

Thank you for proving my point that life is very different today than it was in 1973, and that comparing wages across decades is dumb

“Proving”

You keep saying that word. I do not think it means what you think it means.

Re: US Wages Finally Get Back to Where They Were in 1973

#22

Post by lotsofpulp »

michaelbuckbee wrote: post #12
NoblePublius wrote: post #5

How much did a 55” LCD TV cost in 1973? Cuz they’re $249 now.

There's a great graphic that shows what goods/services are more and less expensive now vs 1998. https://cdn.howmuch.net/articles/price-changes-in-usa-in-pas... TVs are definitely more affordable, but Hospital Services and College is really not. Somewhat surprisingly it looks like Housing is more affordable (rising, but less than average earnings). I think these longitudinal studies of the wage/cost relationships are…

Income, potential to increase income, and income security is so location dependent, that I don't think one can easily compare housing costs throughout the years. The places that are expected to grow in the future have rapidly increasing housing costs, whereas the places that are expected to decline have shrinking housing costs.

Re: US Wages Finally Get Back to Where They Were in 1973

#23

Post by j4kp07 »

Fifth_Star wrote: post #7
NoblePublius wrote: post #5

How much did a 55” LCD TV cost in 1973? Cuz they’re $249 now.

Can you live in a TV and eat it? Cause the average rent was $175 dollars a month http://www.littlehouseinthevalley.com/cost-of-living-compari...

So, when factoring in inflation, the "average rent" of $175 in 1973 still seems...average.

What's your point?

Re: US Wages Finally Get Back to Where They Were in 1973

#24

Post by lokidokiro »

Another way of writing the same title that sounds completely different: "Inflation adjusted US wages reach highest level since 1973."

I'll never understand what compels journalists (or wannabe journalists) to insert words like "finally" into their headlines. It would have been just fine without that one word.

Re: US Wages Finally Get Back to Where They Were in 1973

#25

Post by cptskippy »

NoblePublius wrote: post #8
thfuran wrote: post #6

Earlier quoted context omitted.

Great. Now let's do college.

Thank you for proving my point that life is very different today than it was in 1973, and that comparing wages across decades is dumb

What is your point? That because TV production has largely become automated and those reduced labor costs have brought prices down significantly, that the cost of living has also magically come down?

Re: US Wages Finally Get Back to Where They Were in 1973

#26

Post by refurb »

Fifth_Star wrote: post #7
NoblePublius wrote: post #5

How much did a 55” LCD TV cost in 1973? Cuz they’re $249 now.

Can you live in a TV and eat it? Cause the average rent was $175 dollars a month http://www.littlehouseinthevalley.com/cost-of-living-compari...

An average car cost $4,000. So about 1/10th. Applying that to rent, the rent would be $1750, which is pretty close.

Re: US Wages Finally Get Back to Where They Were in 1973

#27

Post by AnimalMuppet »

conception wrote: post #18
AnimalMuppet wrote: post #15

Earlier quoted context omitted.

It's probably less "most people" than it was in 1973, though.

Why would that be the case? Has there been a significant spike in farm workers or managers per capita?

Well, I was assuming that people like engineers and programmers weren't "production". There are more of them now than there were in 1973, and fewer factory workers.

Re: US Wages Finally Get Back to Where They Were in 1973

#28

Post by kaycebasques »

Now that I’m a bit older (29) it’s fascinating to reflect back on my childhood and teenage years in the context of economic trends. I’ve been interviewing my grandpa to make a biography of his life and it’s mind-blowing to hear about how different the 50s were. A teacher (grandpa) and a part-time worker (grandma) supporting 2 babies and a senior (great grandma), yet still able to buy a home in Millbrae and a plot of land in Tahoe (which my family still has to this day). And then the decline of the 70s, 80s, and 90s, and I put the histories of my mom and dad and their generation into that context. It brings a whole new dimension to my understanding of them.

Re: US Wages Finally Get Back to Where They Were in 1973

#30

Post by mertd »

kaycebasques wrote: post #28

Now that I’m a bit older (29) it’s fascinating to reflect back on my childhood and teenage years in the context of economic trends. I’ve been interviewing my grandpa to make a biography of his life and it’s mind-blowing to hear about how different the 50s were. A teacher (grandpa) and a part-time worker (grandma) supporting 2 babies and a senior (great grandma), yet still able to buy a home in Millbrae and a plot of…

We also got this little thing called Prop 13 in California between then and now.

That and we figured out how to make really tiny transistors and the entirely new industry set up shop here.

Post reply on HN