As I am writing my book, I do a lot of research which entails quite a bit of reading. And when I come across housing prices, rental costs or wages, I like to compare those to what that would be equal to today. I just type "inflation calculator" in my my search engine's search bar and several options pop up. I find it interesting and quite possibly the readers of my book will also find it interesting. (One can always hope!)
After using the calculator several times yesterday, I found it interesting that the amounts were much lower than I figured they would be. For example, a home my Grandfather owned in 1930 cost $4,500, which equates to $65,335 in September of 2017. That seemed low to me, no matter where the home was located, however, I was able to find that same home, albeit much older now, valued at $30,000 today. I believe it must be in a very depressed section of the town. It is not near me.
And the wages! Earning $75 per month in about 1935 equates to $1,361.00 in September of 2017, and $16,332 annually. The monthly poverty income in 2017, in the U.S., for a family of five, is $28,780. Therefore, in 1935, a family of five earning $75 per month would be living in poverty in today's world.
I learned that during the Depression, the CCC/WPA workers were paid 50 cents per hour. That would be $1,040 annually! Today, $18,874.39, well under the poverty income.
So what can we learn from these figures? Are people really living in poverty today with an annual income of $28,780? Or were people in the 1930s really living in poverty and did not realize it? It's all relative, I guess. One would have to compare the cost of the groceries, automobiles, etc., etc. I will have to say at this point, using an overused phrase, it's apples and oranges, Nancy. What say you?
Ta ta for now,