REAL WAGES HAVE FALLEN 2.6% UNDER BIDEN

[infogram id=”e8d17217-18d5-482d-ac97-fd316f39176f” prefix=”Xyc” format=”interactive” title=”REAL AVERAGE HOURLY EARNINGS V3 01112024″]

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 0.3% in December from November and is up 3.4% in the last year.
  • Real average hourly earnings have fallen from $35.18 in January 2021 to $34.27 in December 2023, a 2.6% decline.
Source BLS