Expert in study
alarm
Ask
Other

What was the economy like in the 1950's. More specifically, what was the cost of living, and also what was the average wages and salary? |

Register to add an answer
answers: 1
258 cents
Answer:

First of all, please realize that the cost of living would have varied from place to place so we cannot say exactly what the cost of living was.

However, we can say that $1 in 1950 money was roughly equivalent to $8.50 today, which means that you could buy the same amount with 12 cents back then that you can buy for $1 today.

By 1960, a dollar was worth about $6.90 in today's money.  So that shows you that the cost of living went up over the course of that decade.

It is also hard to talk about average wages, but one estimate says that the average yearly wage in the 1950s was a bit under $3000.  That would be roughly equivalent to $23,000 in today's money.

305
For answers need to register.
Contacts
mail@expertinstudy.com
Feedback
Expert in study
About us
For new users
For new experts
Terms and Conditions