Go look it up... minimum wage levels and economics are well documented. Yes, times were different. Older workers and management were all operating on 40's-60's work ethics where hard work was rewarded.
There were still folks only motivated to do their minimum job and didn't advance as there are today, although I will say that attitude or lack of drive is far more prevalent today. With the exception of a few great managers/mentors over the years... most weren't all that encouraging. Most were just playing the company line to meet objectives. It was me driving myself... boredom is my enemy to this day.