REAL WAGES CONTINUE TO DECLINE, DOWN 3% IN LAST YEAR

[infogram id=”80096a82-8028-41a4-b416-d71c8a0a899f” prefix=”oZy” format=”interactive” title=”REAL AVERAGE HOURLY EARNINGS V2 08112022″]

Key Points:

  • Real average hourly earnings are hourly earnings adjusted for inflation. They are one measure of real wages, which represent the economic return to work.
  • The Consumer Price Index (CPI) was unchanged in July from June and is up 8.5% in the last year.
  • Despite trending up between January 2017 and January 2021, real wages have trended down since January 2021.
  • Real average hourly earnings have fallen from $33.27 in July 2021 to $32.27 in July 2022, a 3.0% decrease.
Source BLS