- 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.