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Half of average wage rose to $16.20 from $4.25, Jeremy Horpedahl notes
Jeremy Horpedahl compares historical and current U.S. wage data. He states that in 1984, $4.25 was half the average hourly wage of $8.49, with the median wage at $7.04 per hour. Horpedahl argues that it was unlikely someone could survive on $4.25 at that time unless they were not supporting a family.
He adds that half of the average wage today has increased to $16.20 per hour.
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Horpedahl has previously observed that a $100,000 starting salary ranked in the top 10% of U.S. family incomes in 1996 and was three times the median male annual income at the time, according to $100K was a top 10% family income in the U.S. for 1996. In another analysis, he found that U.S. GDP per hour leads other Anglosphere countries by 15-25%, with only Denmark coming in higher, as seen in U.S. GDP per hour surpasses other Anglosphere countries. These studies provide additional context to Horpedahl’s wage comparisons.
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