How Much Was an Accountant Paid Each Week During the Depression?

How Much Was an Accountant Paid Each Week During the Depression?

According to the Michigan Department of Natural Resources, the weekly wage for a Depression-era accountant was $45. In 1933, there were 15,000 accountants. Additionally, auditors were hired temporarily and relieved soon thereafter, as most businesses ended their fiscal year on December 31. As of 2010, the weekly average was $700.

According to Forbes, Depression-era wages for most industries were above their fair value, and then-President Herbert Hoover maintained a pro-business policy. These factors helped intensify the deflation experienced during the 1930s. Similarly, many modern economists believe that wages should only rise in tandem with worker productivity but that Hoover misinterpreted this by raising wages above that level.