REAL WAGES HAVE FALLEN 3.0% IN LAST YEAR

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 0.4% in September from August and is up 8.2% 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 $33.46 in September 2021 to $32.46 in September 2022, a 3.0% decrease.
Source BLS