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Economy of the 1940s..
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Economy of the 1940s
Paying a Pretty Penny
What was happening in the 1940s?
Job Trends
World War II had just ended and the pain of the Great Depression was finally being eased. The stock market crash in 1929, which caused the unemployment rate to increase.Natural disasters such as droughts and The Dust Bowl, harmed the economy. The rapid increase in prices was also a direct result of inflation which is when prices increase and the purchase of items decreases.
- By 1942, two million women were working the most difficult and dangerous industrial jobs
- Many women took jobs in war factories
- Rosie the Riveter was characterized as the ideal woman
- Women moved from farms to cities which created less jobs in agriculture
Inflation 101
As inflation increases, every single US dollar will buy a smaller percentage of a good. Central banks try to maintain a inflation rate of 2-3%. For example, lets say you purchase a pack of gum for $1 with an inflation rate of 2%. In one year, that same pack of gum will now cost $1.02.
http://www.investopedia.com/video/play/what-is-inflation/
http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=100&year1=1940&year2=2014
Average Wage
- The average wage in the 1940s was $1,368 per year
- The average wage of median house hold today is $53,046
- Unemployment rate was 18.26% in the 1930s
- In the 1940s it went down to 14.6%
Links
- http://www.thepeoplehistory.com/1940s.html
- http://www.experienceproject.com/stories/Sometime-Think-I-Was-Born-In-The-Wrong-Era/2575535
- http://www.thepeoplehistory.com/1940s.html
- http://www.tvhistory.tv/1940%20QF.htm
- http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=100&year1=1940&year2=2014
- http://www.census.gov/search-results.html?q=average+income&search.x=6&search.y=8&search=submit&page=1&stateGeo=none&searchtype=web
- http://www.archives.gov/publications/prologue/2012/spring/1940.html
- http://www.infoplease.com/ipa/A0104719.html
- http://1940s.org/history/on-the-homefront/women-at-work/
- http://ecmweb.com/content/1940s-1940-1949