GITNUX MARKETDATA REPORT 2024

Statistics About The Average Income 1930

The average income in 1930 was around $1,368 per year.

Last Updated: June 18, 2024

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In this post, we explore various statistics related to income, GDP, poverty rates, and labor conditions in the United States during the year 1930. From the average income and GDP per capita to unemployment levels and income disparities, these data points offer a glimpse into the economic landscape of the early 1930s.

Statistic 1

"The average income in 1930 was approximately $1,368 per year."

Statistic 2

"In 1930, the real GDP per capita in the United States was about $10,053."

Statistic 3

"In 1930, approximately 43.3% of the United States population was considered poor."

Statistic 4

"During the early 1930s, a quarter of the US labor force was unemployed."

Statistic 5

"The average annual wage in 1930 was $1,970."

Statistic 6

"In 1930, men earned approximately $10 more per week than women."

Statistic 7

"In 1930, the average cost of a new house was $7,145."

Statistic 8

"The income disparity ratio between the rich and the middle class was approximately 10:1 in 1930."

Statistic 9

"In 1930, the top 1% of people in the United States earned 16.9% of the total national income."

Statistic 10

"In 1930, the average yearly income for white males was $1,112."

Statistic 11

"The value of all goods and services produced in America was $91.2 billion in 1930."

Statistic 12

"The United States minimum wage in 1930 was not instituted, as the first federal minimum wage was not implemented until 1938."

Statistic 13

"In 1930, the salary for a President of the United States was $75,000."

Statistic 14

"In 1930, the cost of a loaf of bread was approximately $0.09."

Statistic 15

"In 1930, the wage for unskilled laborers was $0.23 per hour."

Statistic 16

"The Federal Reserve's Index of Industrial Production fell by 46% between 1929 and 1933, significantly affecting average incomes in the 1930s."

The statistics from 1930 paint a stark picture of income inequality and economic hardship in the United States during the Great Depression. With high levels of poverty, unemployment, and income disparity, the average American faced significant challenges to make a decent living. The distribution of wealth was heavily skewed towards the wealthy elite, while the majority of the population struggled to meet basic needs. The absence of a federal minimum wage further exacerbated the economic struggles of the working class. The sharp decline in industrial production between 1929 and 1933 further deepened the economic crisis, highlighting the widespread impact of the Depression on average incomes and living standards.