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 February from January and is up 6.0% 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 $34.36 in January 2021 to $33.09 in February 2023, a 3.7% decrease.
Real average hourly earnings have fallen 1.3% in the last year alone, from $33.52 in February 2022 to $33.09 in February 2023.