REAL WAGES STILL DOWN 1.3% 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 0.3% in November from October and is up 2.7% in the last year.
  • Real average hourly earnings have fallen from $36.08 in January 2021 to $35.61 in November 2024, a 1.3% decline.
  • Overall, prices have increased 20.8% since Biden and Harris took office in January 2021.
Source BLS