Pay was rising after WWII

After WWII, pay went up a lot. Factory workers earned more than before, and most families’ incomes doubled when we count for changes in prices. Between 1948 and 1973, families earned about 3 percent more each year—so they could afford better homes and a better life.

• Wages for many workers more than doubled During WWII, jobs were in high demand and factories needed workers—and they paid well. By 1949, average pay for factory workers (who were not supervisors) had more than doubled compared to 1940. This helped families earn significantly more right after the war. Source: “Average hourly earnings of production and nonsupervisory workers in manufacturing more than doubled between 1940 and 1949.” (U.S. Bureau of Labor Statistics) 
• Median family income roughly doubled (even after adjusting for inflation) Families of all income levels saw their real incomes grow a lot after the war. In fact, inflation-adjusted incomes nearly doubled between the late 1940s and early 1970s—meaning families could afford more things and enjoy a better life. Source: “Incomes grew rapidly and at roughly the same rate up and down the income ladder, roughly doubling in inflation-adjusted terms between the late 1940s and early 1970s.” (Center on Budget and Policy Priorities) 
• Typical American family income grew fast From 1948 to 1973, the average American family’s income went up by about 3 percent each year. That means their overall income doubled in about one generation—enough to pay for nicer homes, better schools, and more comforts. Source: “From 1948 to 1973, the typical American family’s income grew by 3 percent annually, doubling roughly once a generation.” (Peterson Institute for International Economics) 

References:

• U.S. Bureau of Labor Statistics – “Average hourly earnings of production and nonsupervisory workers in manufacturing more than doubled between 1940 and 1949.” https://www.bls.gov/opub/mlr/cwc/compensation-from-world-war-ii-through-the-great-society.pdf
• Center on Budget and Policy Priorities – “Incomes grew… roughly doubling in inflation-adjusted terms between the late 1940s and early 1970s.” https://www.cbpp.org/research/poverty-and-inequality/a-guide-to-statistics-on-historical-trends-in-income-inequality
• Peterson Institute for International Economics – “From 1948 to 1973, the typical American family’s income grew by 3 percent annually, doubling roughly once a generation.” https://www.piie.com/research/piie-charts/income-growth-typical-american-family-has-slowed-early-1970s

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