Average Salary In The 1960s. For the country as a whole, the average (median) household income in 1960 was $5,600. But, for households headed by people age 65 and older, the average was just $2,900, according to estimates released today by the Bureau of the Census, Commerce Department. The all-household average was $200, or 4 percent, higher than in 1959, despite a slowdown in economic activity in the last months of 1960. Because prices rose slightly between 1959 and 1960, the real purchasing power gain of the median household in the United States was only 2 percent.
The post-war period was marked by a significant increase in household income, and the upward trend continued until the 1960s. Since 1947, the median household gross income in current dollars has increased from $3,000 to $5,600, or 85 percent. However, consumer prices rose significantly during this period so that almost half of current-dollar income represented an increase in purchasing power. In constant (1960) dollar terms, median household income rose from $4,000 in 1947 to $5,600 in 1960, or 40 percent. This represents a growth rate that averaged about 2 1/2 percent per year during this period.
How much did people earn in the 1960s?
People earned much less in the 1960s than they do today. In the 1960s women earned much less than men. Often only as much as half. In the 1960s £1,000 was considered a good annual salary. People saw this as the dividing line between a well-paying respectable job and a low-paying job. 1,000 pounds in 1965 is about 14,000 pounds today. The average salary today (in 2021) is £29,600 We are much better now. Although the price has increased, the income has increased.
What was median income in 1960s?
In 1966 the median income for all households reached a new peak of $7,400. That’s about $480, or 7 percent, higher than the revised 1965 figure of about $7,000. However, since consumer prices rose by about 3 percent between 1965 and 1966, the real purchasing power gain was about 4 percent.