I often ask people: “if you could be 20-years old in 1991 or 2021, which would you pick?” An incredible number of people pick ‘91. Some people even ask to go back to the seventies. This article explains why I would much rather be young now rather than before.
'91 would be better though - better salaries in a lot of jobs, and lower house prices. GPS on the phone is awesome, but I'd still prefer financial security.
Factory jobs that is probably true in general--though you're still into the period when a lot of traditional union manufacturing jobs were leaving (or had left) the country.
As an engineer/software developer, you're probably going to be paid about $40K for an entry-level position [ADDED: For the US at a "tech" company]. And there is basically no equivalent to routine FAANG SWE salaries.
Housing is cheaper (relatively) in some locations although the Bay Area was still relatively expensive. Manhattan was considered the high-priced place to live at the time.