REAL WAGES HAVE FALLEN 2.5% 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 0.4% in February from January and is up 3.2% in the last year.
  • Real average hourly earnings have fallen from $35.46 in January 2021 to $34.57 in February 2024, a 2.5% decline.
Source BLS