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Scott Rasmussen's Number of the Day for May 11, 2018
The Number of the Day columns published on Ballotpedia reflect the views of the author.
May 11, 2018: In 1960, the average American worker put in 1,930 hours on the job. In 2017, that figure was 9% lower at just 1,758 hours.[1]
Despite working fewer hours, American incomes have grown dramatically over the past half-century. Census Bureau data shows that the average income for every man, woman, and child in 2016 was $33,205.
Back in 1967, the average American earned $2,464. However, a dollar went a lot further back then. Adjusting for inflation, the census data indicates that the average income in 1967 would be equivalent to $15,487 today. In other words, workers are putting in fewer hours while average income has more than doubled.
A very small portion of that increase can be attributed to more people working. In 1960, 60% of Americans were in the workforce. Today, that figure is 63%.[2]
Worldwide, per capita income rose by 183% from 1960 to 2016. Cato scholar and Editor of HumanProgress.org Marian L. Tupy observed that the growing income led to “the greatest poverty reduction in human history. In 1981, the World Bank estimated, 42.2 percent of humanity lived on less than $1.90 per person per day (adjusted for purchasing power). In 2013, that figure stood at 10.7 percent. That’s a reduction of 75 percent. According to the Bank’s more recent estimates, absolute poverty fell to less than 10 percent in 2015.”
Each weekday, Scott Rasmussen’s Number of the Day explores interesting and newsworthy topics at the intersection of culture, politics, and technology.
- May 10, 2018 – 500 dollar per employee head tax proposed in Seattle
- May 9, 2018 – 22 states have passed laws concerning self-driving vehicles
- May 8, 2018 – 39 percent of top liberal arts colleges have no Republican professors
- May 7, 2018 – 74 percent of government workers voted in Election 2016
- May 4, 2018 – 3.5 million Americans moved from highest-taxed states to lowest over past decade
- To see other recent numbers, check out the archive.
Scott Rasmussen’s Number of the Day is published by Ballotpedia weekdays at 8:00 a.m. Eastern. Click here to check out the latest update.
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Columns published on Ballotpedia reflect the views of the author.
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