REAL WAGES STILL DOWN 1.7% UNDER BIDEN AND HARRIS

[infogram id=”17672320-bda9-4adc-9613-ef2297218c05″ prefix=”lao” format=”interactive” title=”REAL AVERAGE HOURLY EARNINGS V3 09112024″]

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 0.2% in August from July and is up 2.5% in the last year.
  • Real average hourly earnings have fallen from $35.81 in January 2021 to $35.21 in August 2024, a 1.7% decline.
  • Overall, prices have increased 19.7% since Biden and Harris took office in January 2021.
Source BLS