Labor market experienced tremendous growth between 2021 and 2022, but much was eaten away by inflation: Change in payroll employment, nominal wages, inflation, and real wages between 2021 and 2022
| Measure | Percent |
|---|---|
| Payroll employment change | 4.3% |
| Nominal wage change | 5.4% |
| Inflation | 8.0% |
| Real wage change | -2.4% |
Source: EPI analysis of Bureau of Labor Statistics Current Employment Statistics and Consumer Price Index public data series.