REAL WAGES HAVE FALLEN 2.1% UNDER BIDEN

[infogram id=”c9c15872-31e3-4263-94f4-0893645373c0″ prefix=”MVg” format=”interactive” title=”REAL AVERAGE HOURLY EARNINGS V3 02162024″]

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 January from December and is up 3.1% in the last year.
  • Real average hourly earnings have fallen from $35.31 in January 2021 to $34.55 in January 2023, a 2.1% decline.
Source BLS