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9 Percent Less Hours Worked by Americans Since 1960

9 Percent Less Hours Worked by Americans Since 1960
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Friday, 11 May 2018 03:38 PM Current | Bio | Archive

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 percent of Americans were in the workforce. Today, that figure is 63 percent.[2]

Worldwide, per capita income rose by 183 percent 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."

Footnotes:

  1. HumanProgress, "Julian Simon Was Right About Population and Prosperity," February 16, 2018
  2. Bureau of Labor Statistics, "Labor Force Statistics from the Current Population Survey," accessed May 10, 2018

Each weekday, Scott Rasmussen’s Number of the Day explores interesting and newsworthy topics at the intersection of culture, politics, and technology. Columns published on Ballotpedia reflect the views of the author.​

Scott Rasmussen is founder and president of the Rasmussen Media Group. He is the author of "Mad as Hell: How the Tea Party Movement Is Fundamentally Remaking Our Two-Party System," "In Search of Self-Governance," and "The People’s Money: How Voters Will Balance the Budget and Eliminate the Federal Debt." Read more reports from Scott Rasmussen — Click Here Now.

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Globally, per capita income rose by 183 percent 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."
humanity, word bank
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2018-38-11
Friday, 11 May 2018 03:38 PM
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