REAL WAGES DOWN 3.1% UNDER BIDEN ADMIN

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 still down after adjusting for inflation.
  • The Consumer Price Index (CPI) rose 0.6% in August from July and is up 3.7% in the last year, an increase from 3.2% in the year ending in July.
  • Real average hourly earnings have fallen from $34.89 in January 2021 to $33.82 in August 2023, a 3.1% decline.
Source BLS