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In 1980, the American standard of living was the highest among the industrial countries, according to the OECD. Out of the 85 million households in the United States, 64% owned their own living quarters, 55% had at least two TV sets, and 51% had more than one vehicle.
The history of the United States from 1980 until 1991 includes the last year of the Jimmy Carter presidency, eight years of the Ronald Reagan administration, and the first three years of the George H. W. Bush presidency, up to the collapse of the Soviet Union.
The United States exited recession in late 1949, and another robust expansion began. This expansion coincided with the Korean War, after which the Federal Reserve initiated more restrictive monetary policy. The slowdown in economic activity led to the recession of 1953, bringing an end to nearly four years of expansion. May 1954– Aug 1957 39 ...
For all of 1991, the United States incurred a net loss of 858,000 jobs, with 1.154 million created in 1992 and 2.788 million in 1993. Other factors contributed to a slow economy, including a slump in office construction resulting from overbuilding during the 1980s. [8]
In 1980 the middle class earned 17% of total income in the United States. [ 291 ] [ 292 ] [ 293 ] However, by 2019 its share decreased to 14%, a drop of 3%. Another way to see this is that in 1980 the share of the middle class was the same as that of the top 5% but by 2019 the top 5% was 9 percentage points ahead of the middle class.
Image credits: Old-time Photos To learn more about the fascinating world of photography from the past, we got in touch with Ed Padmore, founder of Vintage Photo Lab.Ed was kind enough to have a ...
Household income is an economic standard that can be applied to one household, or aggregated across a large group such as a county, city, or the whole country. It is commonly used by the United States government and private institutions to describe a household's economic status or to track economic trends in the US.
The New York Times reports that the Carleton Sheets infomercials that were ubiquitous a couple years ago are now off the air, as the real estate training mogul struggles with his tarnished ...