Men are Making Less Money Than in 1979 While Women’s Living Standards are Improving
According to BLS data that financial blogger Mike Shedlock was able to analyze, men’s living standards are dropping.
Shedlock analyzed median real earnings from the BLS, which were adjusted for inflation using the 1982-1984 CPI Index. He listed off the following statistics:
- In the first quarter of 1979 men were making $408 weekly. Today, men are making $391.
- In the first quarter of 1979 women were making $250 weekly. Today women are making $330 weekly.
- Collectively, people were making $335 then and now they are making $365.
Men’s median earnings have declined 4.2%, whereas median women’s earnings have risen 32%.
Put simply, in nominal terms, men were earning $282 weekly in 1979 and $1,186 weekly in the present time. When adjusted for inflation, $282 bought 4.2% more in 1979 than $1,186 does currently. Money back then simply went farther than it does now.
Women’s earning capacity has improved. In nominal terms, women were earning $179 in 1979 and $1,001 currently. In real terms, that’s an increase from $250 to $330, which represents a 32% increase.
Indeed, men still earn more than women, but because of the cultural push to have women in the workforce and public and private policy that emphasizes diversity hiring, women are beginning to acquire more employment than men.
Many men have largely thrown in the towel and have exited the workforce altogether due to the dire economic prospects that easy money and heavy regulation of the economy have brought about. Add in woke hiring practices, and you have the recipe for many males to exit the workforce en masse.
It’s going to take a massive cultural shift and an overhaul of public policy for the economy to be brought back to normal.