REAL WAGES HAVE FALLEN 3% UNDER BIDEN

[infogram id=”05e0120e-7359-4d1e-b34a-663973aca418″ prefix=”zc6″ format=”interactive” title=”REAL AVERAGE HOURLY EARNINGS V3 11162023″]

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) was unchanged in October from September and is up 3.2% in the last year.
  • Real average hourly earnings have fallen from $35.04 in January 2021 to $34.00 in October 2023, a 3.0% decline.
Source BLS