American workers’ real average hourly and weekly seasonally adjusted earnings fell 1 percent from May to June, according to the U.S. Bureau of Labor Statistics on July 13. Though many workers are receiving larger paychecks in the middle of a tight labor market, rising prices are adding pressure to their finances due to inflation outpacing employee…
Americans’ Real Wages Fall Again as Inflation Soars to Fresh 40-Year High
July 13, 2022
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Americans’ Real Wages Decline Due to Rising Inflation
Even though Americans have seen sizable wage growth over the past year, real wages have actually dipped during the period due to soaring inflation, which is presently at four-decade high levels. “In June, average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents, or 0.3 percent, to $32.08. Over the past…
Australian Wages Growth Lifts Again, Remains Far Below Inflation
May 18, 2022
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Australian wages growth has accelerated for the second consecutive quarter but continues to lag inflation, according to newly released data from the Australian Bureau of Statistics (ABS). The annual rate of wages growth was 2.4 percent, and while it is the highest annual rate recorded since December 2018, it fell below expectations. ABS said it…
Sky-High Inflation Gives Americans a Wage Cut in March for 6th Month Running
Red-hot inflation has more than eroded the wage gains of Americans for the sixth month in a row in March, effectively giving a pay cut to many workers who saw their paychecks expand on paper but shrink in real terms. The Bureau of Labor Statistics (BLS) said in a recent release that the average hourly earnings…
Raging Inflation Gave American Workers an Effective Pay Cut Even as Nominal Wages Rose
The high-octane stimulus-fueled economic rebound combined with the “Great Resignation” labor crunch has forced U.S. employers to lift wages sharply to attract and retain staff, but while January’s over-the-year wage gains are positive in nominal terms, they disappoint in real terms as the red-hot pace of inflation means many American workers got an effective pay…
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