OUTDATED -- SEE LATEST VERSION ABOVE
double-indexed is for inflation and per capita income growth
yr per capita real nominal dbl-index %-of
(2013 dollars)
68 15,473 10.74 (1.60) 10.74 100%
69-70-71-72-73 [real, low point- 8.41]
74 18,284 9.47 (2.00) 12.61
75 18,313 9.11 (2.10) 12.61
76 18,945 9.44 (2.30) 13.04 72%
77 [8.86]
78 20,422 9.49 (2.65) 14.11
79 20,696 9.33 (2.90) 14.32
80 20,236 8.78 (3.10) 14.00
81 20,112 8.61 (3.35) 13.89 62%
82-83-84-85-86-87-88-89 [6.31]
90 24,000 6.79 (3.80) 16.56
91 23,540 7.29 (4.25) 16.24 44%
92-93-94-95 [6.51]
96 25,887 7.07 (4.75) 17.85
97 26,884 7.49 (5.15) 19.02 39%
98-99-00-01-02-03-04-05-06 [5.97]
07 29,075 6.59 (5.85) 20.09
08 28,166 7.10 (6.55) 19.45
09 27,819 7.89 (7.25) 9.42 40%
10-11-12 [7.37]
13 28,829 7.25 (7.25) 19.32 38%
* * * * * *
An added thought: By the year 2013 some could speculate that a $20.20/hr minimum wage might not be a realistic expectation evidenced by double indexing alone because the fabric of the economy might have changed so radically over 45 years. Might be an outside possibility, but, LBJ's 1968 minimum wage would have morphed to more than $14/hr with double indexing by only 1978. Can anyone explain how the economic fabric might have changed so radically in a mere 10 years?
double-indexed is for inflation and per capita income growth
yr per capita real nominal dbl-index %-of
(2013 dollars)
68 15,473 10.74 (1.60) 10.74 100%
69-70-71-72-73 [real, low point- 8.41]
74 18,284 9.47 (2.00) 12.61
75 18,313 9.11 (2.10) 12.61
76 18,945 9.44 (2.30) 13.04 72%
77 [8.86]
78 20,422 9.49 (2.65) 14.11
79 20,696 9.33 (2.90) 14.32
80 20,236 8.78 (3.10) 14.00
81 20,112 8.61 (3.35) 13.89 62%
82-83-84-85-86-87-88-89 [6.31]
90 24,000 6.79 (3.80) 16.56
91 23,540 7.29 (4.25) 16.24 44%
92-93-94-95 [6.51]
96 25,887 7.07 (4.75) 17.85
97 26,884 7.49 (5.15) 19.02 39%
98-99-00-01-02-03-04-05-06 [5.97]
07 29,075 6.59 (5.85) 20.09
08 28,166 7.10 (6.55) 19.45
09 27,819 7.89 (7.25) 9.42 40%
10-11-12 [7.37]
13 28,829 7.25 (7.25) 19.32 38%
* * * * * *
An added thought: By the year 2013 some could speculate that a $20.20/hr minimum wage might not be a realistic expectation evidenced by double indexing alone because the fabric of the economy might have changed so radically over 45 years. Might be an outside possibility, but, LBJ's 1968 minimum wage would have morphed to more than $14/hr with double indexing by only 1978. Can anyone explain how the economic fabric might have changed so radically in a mere 10 years?
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