Figure A
Real wages rose in 2024 as inflation continued to fall: Percent change in prices, nominal and real hourly wages and weekly earnings, 2022–2023 and 2023–2024
| Category | 2022-2023 | 2023-2024 |
|---|---|---|
| Inflation | 3.9% | 2.6% |
| Hourly wages, nominal | 4.5% | 4.0% |
| Weekly earnings, nominal | 4.1% | 3.5% |
| Hourly wages, real | 0.6% | 1.4% |
| Weekly earnings, real | 0.2% | 0.9% |
Note: Inflation data are based on the Chained CPI.
Source: EPI analysis of Bureau of Labor Statistics Current Employment Statistics and Consumer Price Index public data series.
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