1953 - 2005 prices about the same

Posted by Paul Cook in Kempner, Texas on Friday, March 10, 2006 at 1:16PM :

In Reply to: 1953 original invoice info posted by Steve Pellock on Friday, March 10, 2006 at 10:33AM :

In 1953 I worked for the minimum wage - about 50 cents an hour. In 2005, the minimum wage was about $6.50 an hour - 13 times as much.

The $3085 list price multiplied by 13 is $40,105.

I'd have to work 6170 hours at minimum wage to buy a new Power Wagon in 1953, or in 2005. That's 154.25 weeks or 2.97 years.

Gas was about $.27 a gallon in 1953 - lower when gas wars were going on. That translates to $3.51 a gallon these days. I got 1.85 gallons for each hour worked in 1953, and I get 2.95 gallons for each hour worked at the minimum wage today. (Gas was $2.199 today)

• Kempner POWER WAGON Museum

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• Re: 1953 - 2005 prices about the same - Steve Pellock 2:37PM 03/10/2006

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