(cont'd from yesterday's post)
The average cost of Thanksgiving dinner for ten people across America this year is $46.90 in today's dollars, based on average prices for the menu items listed yesterday.
To get a handle on how that compares to Thanksgivings in the past, it's necessary to use a measurement tool that made sense in past years and still does in 2020.
Here's the solution: find the average American's wages for the year you want to compare it to, and then figure out how many hours the average American must work to buy the components of that dinner. Economist Mark Perry did that, and here are the results:
Generally speaking, Americans in 2020 can purchase this meal with fewer hours of labor than Americans in any other year since 1986.
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