REAL WAGES HAVE FALLEN 2.8% 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 October from September and is up 7.7% 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 $33.53 in October 2021 to $32.58 in October 2022, a 2.8% decrease.
Source BLS