American households are working longer hours—hours they used to have for other activities such as leisure or family time. These longer hours are the main reason why household earnings increased over the last 35 years. Between 1979 and 2007, annual earnings of most households (those between the 20th and 80th percentiles of earnings) increased by 15.2 percent, rising to just under $60,000 by 2007. During this period, the average hourly wages of these households grew $1.05 per hour, while annual hours rose by 289 hours.
Median Household Incomes by Age Bracket: 1967-2014
- The age cohort with the grimmest history, of course, is the 15-24 bracket. In real terms, this cohort has the same income as in 1967. However, the 2014 data point is off the 21st century low in 2010, no doubt because it is the cheapest and a relatively abundant source of labor.
Average number of hours per week spent on Paid Work: 1965-2011
1965: 8 + 42 = 50
2011: 21 + 37 = 58
Real Mean and Median Income, Families and Individuals, 1947-2012, and Households, 1967-2012
Data Source: U.S. Census Bureau. Historical Income Tables F-5, H-5, and P-4 @ https://web.archive.org/web/20160124003125/http://www.census.gov:80/hhes/www/income/data/historical/index.html.