REAL WAGES STILL DOWN 2.8% UNDER BIDEN

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 0.1% in November from October and is up 3.1% in the last year.
  • Real average hourly earnings have fallen from $35.08 in January 2021 to $34.10 in November 2023, a 2.8% decline.
Source BLS