Minimum Wage and What It Buys You: 1950s to Now

Minimum Wage and What It Buys You: 1950s to Now

1960

By 1960, the minimum wage of $1 had not quite kept up with inflation, making rent a bit less affordable―though still not quite two weeks of minimum-wage work. On the other hand, filling up the Corvette was actually relatively cheaper―it took just under twenty minutes of work to get a gallon of gas.

Minimum wage: $1/hour
Gas: $0.31 or 19m
Movie ticket: $0.69 or 41m
Rent: $71 or 71hrs

REUTERS/Arnd Wiegmann