Year in Review: 1958

Quick Facts

In the worst recession since World War II, nearly 5.5 million people were out of work in the United States.

The average cost of a new house: $12,750

The average rent: $92/month

The average yearly wages: $4,600

Gas cost 25 cents a gallon

The price of 1st class stamp was 4¢.

Minimum wage was 1$/hour.

Notable Events

January 8: 14 –year-old Bobby Fischer won the U.S. Chess Championship

March 27: Nikita Khrushchev became Premier of the Soviet Union.

July 7: President Dwight D. Eisenhower signed the Alaska Statehood Act into United States law.

The first International House of Pancakes (IHOP) opened in Toluca Lake, California.

July 29: The U.S. Congress formally creates the National Aeronautics and Space Administration (NASA).

The Baltimore Colts beat the New York Giants 23-17 in the Super Bowl.