REAL WAGES HAVE FALLEN 2.8% IN LAST YEAR

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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) rose 0.1% in August from July and is up 8.3% 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 $33.30 in August 2021 to $32.36 in August 2022, a 2.8% decrease.
Source BLS