Figure J

Unemployment and changes in real wage growth and unemployment (overall and short-term), with and without the recovery,1976–2013

Note: Following Krueger, Cramer, and Cho (2014), hourly wage changes are calculated as changes in nominal hourly wages for production and nonsupervisory workers minus the change in the previous year’s percent change in the personal consumptions expenditures chain price index, excluding food and energy.  The change in these annual real wage inflation measures are reported on the vertical axis.

Source: Authors' analysis of data from Current Population Survey public data series and Bureau of Economic Analysis National Income and Product Accounts  (Table 2.3.4.)

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