REAL WAGES DOWN 3% SINCE BIDEN TOOK OFFICE

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.
  • Despite average hourly earnings trending up, wages are lower after adjusting for inflation.
  • The Consumer Price Index (CPI) rose 0.2% in June from May and is up 3.0% in the last year.
  • Real average hourly earnings have fallen from $34.61 in January 2021 to $33.58 in June 2023, a 3.0% decline.
Source BLS