Between 1914 and 1969, weekly wages in manufacturing industries in the United States grew by a factor of 12. In the first half of the century, the most significant periods of increase came during the World Wars, as manufacturing industries were at the core of the war effort. However, wages then fell sharply after both World Wars, due to post-war recessions and oversaturation of the job market as soldiers returned home. Interwar period Wage growth during the interwar period was often stagnant, despite the significant economic growth during the Roarin' 20s, and manufacturing wages remained steady at around 24 dollars from 1923 to 1929. This was, again, due to oversaturation of the job market, as employment in the agricultural sector declined due to mechanization and many rural workers flocked to industrial cities in search of employment. The Great Depression then saw the largest and most prolonged period of decline in manufacturing wages. From September 1929 to March 1933, weekly wages fell from 24 dollars to below 15 dollars, and it would take another four years for them to return to pre-Depression levels. Postwar prosperity After the 1945 Recession, the decades that followed the Second World War then saw consistent growth in manufacturing wages in almost every year, as the U.S. cemented itself as the foremost economic power in the world. This period is sometimes referred to as the Golden Age of Capitalism, and the U.S. strengthened its economic presence in Western Europe and other OECD countries, while expanding its political and military presence across Asia. Manufacturing and exports played a major role in the U.S.' economic growth in this period, and wages grew from roughly 40 dollars per week in 1945 to more than 120 dollars by the late 1960s.

Graph and download economic data for Real Median Family Income in the United States (MEFAINUSA672N) from 1953 to 2023 about family, median, income, real, and USA.

Following the inauguration of Franklin D. Roosevelt, government relief spending increased drastically. In his first year in office, workers in major cities were receiving benefits equal to just over one-fifth of average manufacturing wages. By 1936, relief benefits had risen to over two-fifths of the value of manufacturing wages - this also coincided with a wage increase from around 17 U.S. dollars per week in 1933 to 23 U.S. dollars in 1936, which means that the total value of relief benefits more than doubled in these years.

Annual: at Current Prices: Gross National Product, Annual: at Current Prices: Net National Product, Annual: at Current Prices: Personal Disposable Income, Annual: at Current Prices: Personal Consumption Expenditure, Annual: at 1934～1936 Prices: Gross National Product, Annual: at 1934～1936 Prices: Net National Product, Annual: at 1934～1936 Prices: Personal Consumption Expenditure, Seven-year Moving Average: at 1934～1936 Prices: Gross National Product, Seven-year Moving Average: at 1934～1936 Prices: Net National Product, Seven-year Moving Average: at 1934～1936 Prices: Personal Consumption Expenditure

Graph and download economic data for Real gross domestic product per capita (A939RX0Q048SBEA) from Q1 1947 to Q4 2024 about per capita, real, GDP, and USA.

About this dataset

Context

The dataset presents the median household incomes over the past decade across various racial categories identified by the U.S. Census Bureau in Bradford. It portrays the median household income of the head of household across racial categories (excluding ethnicity) as identified by the Census Bureau. It also showcases the annual income trends, between 2013 and 2023, providing insights into the economic shifts within diverse racial communities.The dataset can be utilized to gain insights into income disparities and variations across racial categories, aiding in data analysis and decision-making..

Key observations

• White: In Bradford, the median household income for the households where the householder is White increased by $1,940(3.47%), between 2013 and 2023. The median household income, in 2023 inflation-adjusted dollars, was $55,977 in 2013 and $57,917 in 2023.
• Black or African American: Even though there is a population where the householder is Black or African American, there was no median household income reported by the U.S. Census Bureau for both 2013 and 2023.
• Refer to the research insights for more key observations on American Indian and Alaska Native, Asian, Native Hawaiian and Other Pacific Islander, Some other race and Two or more races (multiracial) households

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates.

Racial categories include:

• White
• Black or African American
• American Indian and Alaska Native
• Asian
• Native Hawaiian and Other Pacific Islander
• Some other race
• Two or more races (multiracial)

Variables / Data Columns

• Race of the head of household: This column presents the self-identified race of the household head, encompassing all relevant racial categories (excluding ethnicity) applicable in Bradford.
• 2010: 2010 median household income
• 2011: 2011 median household income
• 2012: 2012 median household income
• 2013: 2013 median household income
• 2014: 2014 median household income
• 2015: 2015 median household income
• 2016: 2016 median household income
• 2017: 2017 median household income
• 2018: 2018 median household income
• 2019: 2019 median household income
• 2020: 2020 median household income
• 2021: 2021 median household income
• 2022: 2022 median household income
• 2023: 2023 median household income
• Please note: All incomes have been adjusted for inflation and are presented in 2023-inflation-adjusted dollars.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for Bradford median household income by race. You can refer the same here

This table contains 11 series, with data for years 1926 - 1960 (not all combinations necessarily have data for all years), and was last released on 2009-01-21. This table contains data described by the following dimensions (Not all combinations are available): Geography (1 items: Canada ...), Income-based estimates (11 items: Gross domestic product (GDP) at market prices; Net domestic income at factor cost; Wages; salaries and supplementary labour income; Corporation profits before taxes ...).

In the Second World War, Japanese military wages were considered low in comparison to U.S. or European wages. A Japanese Army general received a basic pay of 550 yen per month (or roughly 126.5 U.S. dollars), whereas the lowest class of private received just six* yen per month (or 1.38 U.S. dollars). The source notes, however, that living costs were lower in Japan, and that additional pay was available for service personnel based on factors such as location, length of service, and specialized roles.

In an impressive increase from years past, 39 percent of women in the United States had completed four years or more of college in 2022. This figure is up from 3.8 percent of women in 1940. A significant increase can also be seen in males, with 36.2 percent of the U.S. male population having completed four years or more of college in 2022, up from 5.5 percent in 1940.

4- and 2-year colleges

In the United States, college students are able to choose between attending a 2-year postsecondary program and a 4-year postsecondary program. Generally, attending a 2-year program results in an Associate’s Degree, and 4-year programs result in a Bachelor’s Degree.

Many 2-year programs are designed so that attendees can transfer to a college or university offering a 4-year program upon completing their Associate’s. Completion of a 4-year program is the generally accepted standard for entry-level positions when looking for a job.

Earnings after college

Factors such as gender, degree achieved, and the level of postsecondary education can have an impact on employment and earnings later in life. Some Bachelor’s degrees continue to attract more male students than female, particularly in STEM fields, while liberal arts degrees such as education, languages and literatures, and communication tend to see higher female attendance.

All of these factors have an impact on earnings after college, and despite nearly the same rate of attendance within the American population between males and females, men with a Bachelor’s Degree continue to have higher weekly earnings on average than their female counterparts.

In the build up to the Second World War, the United States was the major power with the highest gross domestic product (GDP) per capita in the world. In 1938, the United States also had the highest overall GDP in the world, and by a significant margin, however differences in GDP per person were much smaller. Switzerland In terms of countries that played a notable economic role in the war, the neutral country of Switzerland had the highest GDP per capita in the world. A large part of this was due to the strength of Switzerland's financial system. Most major currencies abandoned the gold standard early in the Great Depression, however the Swiss Franc remained tied to it until late 1936. This meant that it was the most stable, freely convertible currency available as the world recovered from the Depression, and other major powers of the time sold large amounts of gold to Swiss banks in order to trade internationally. Switzerland was eventually surrounded on all sides by Axis territories and lived under the constant threat of invasion in the war's early years, however Swiss strategic military planning and economic leverage made an invasion potentially more expensive than it was worth. Switzerland maintained its neutrality throughout the war, trading with both sides, although its financial involvement in the Holocaust remains a point of controversy. Why look at GDP per capita? While overall GDP is a stronger indicator of a state's ability to fund its war effort, GDP per capita is more useful in giving context to a country's economic power in relation to its size and providing an insight into living standards and wealth distribution across societies. For example, Germany and the USSR had fairly similar GDPs in 1938, whereas Germany's per capita GDP was more than double that of the Soviet Union. Germany was much more industrialized and technologically advanced than the USSR, and its citizens generally had a greater quality of life. However these factors did not guarantee victory - the fact that the Soviet Union could better withstand the war of attrition and call upon its larger population to replenish its forces greatly contributed to its eventual victory over Germany in 1945.