Young workers' wages have outpaced key inflation measures since February 2020: Young workers' wages and consumer price indices for rent and college, indexed to February 2020, through March 2025
| CPI-College | CPI-Rent | Wages | |
|---|---|---|---|
| Feb-2020 | 0.0% | 0.0% | 0.0% |
| Mar-2020 | 0.1% | 0.3% | 0.2% |
| Apr-2020 | 0.3% | 0.6% | 0.3% |
| May-2020 | 0.4% | 0.9% | 0.9% |
| Jun-2020 | 0.6% | 1.1% | 2.7% |
| Jul-2020 | 0.7% | 1.4% | 4.4% |
| Aug-2020 | 0.8% | 1.6% | 5.4% |
| Sep-2020 | 0.9% | 1.9% | 5.8% |
| Oct-2020 | 0.9% | 2.1% | 6.5% |
| Nov-2020 | 1.0% | 2.3% | 6.7% |
| Dec-2020 | 1.1% | 2.5% | 7.4% |
| Jan-2021 | 1.1% | 2.7% | 8.6% |
| Feb-2021 | 1.1% | 2.8% | 9.2% |
| Mar-2021 | 1.2% | 3.0% | 10.4% |
| Apr-2021 | 1.2% | 3.1% | 11.0% |
| May-2021 | 1.2% | 3.3% | 12.1% |
| Jun-2021 | 1.2% | 3.5% | 13.0% |
| Jul-2021 | 1.3% | 3.6% | 13.5% |
| Aug-2021 | 1.3% | 3.8% | 14.0% |
| Sep-2021 | 1.5% | 4.0% | 14.6% |
| Oct-2021 | 1.6% | 4.2% | 15.8% |
| Nov-2021 | 1.8% | 4.5% | 16.2% |
| Dec-2021 | 1.9% | 4.8% | 16.7% |
| Jan-2022 | 2.1% | 5.1% | 18.2% |
| Feb-2022 | 2.3% | 5.5% | 20.0% |
| Mar-2022 | 2.4% | 5.9% | 21.8% |
| Apr-2022 | 2.6% | 6.3% | 22.4% |
| May-2022 | 2.8% | 6.7% | 23.8% |
| Jun-2022 | 3.0% | 7.2% | 25.8% |
| Jul-2022 | 3.2% | 7.8% | 25.9% |
| Aug-2022 | 3.4% | 8.4% | 25.6% |
| Sep-2022 | 3.6% | 9.0% | 25.8% |
| Oct-2022 | 3.8% | 9.7% | 26.7% |
| Nov-2022 | 3.9% | 10.4% | 26.6% |
| Dec-2022 | 4.1% | 11.1% | 26.4% |
| Jan-2023 | 4.3% | 11.9% | 27.9% |
| Feb-2023 | 4.5% | 12.7% | 28.9% |
| Mar-2023 | 4.7% | 13.5% | 30.0% |
| Apr-2023 | 4.9% | 14.3% | 31.0% |
| May-2023 | 5.1% | 15.1% | 31.2% |
| Jun-2023 | 5.3% | 15.8% | 31.9% |
| Jul-2023 | 5.5% | 16.6% | 32.3% |
| Aug-2023 | 5.6% | 17.3% | 33.6% |
| Sep-2023 | 5.8% | 18.0% | 34.3% |
| Oct-2023 | 5.9% | 18.7% | 34.3% |
| Nov-2023 | 6.0% | 19.3% | 34.4% |
| Dec-2023 | 6.1% | 20.0% | 34.4% |
| Jan-2024 | 6.3% | 20.5% | 35.3% |
| Feb-2024 | 6.4% | 21.1% | 36.0% |
| Mar-2024 | 6.5% | 21.7% | 36.4% |
| Apr-2024 | 6.6% | 22.2% | 37.0% |
| May-2024 | 6.7% | 22.7% | 37.0% |
| Jun-2024 | 6.8% | 23.2% | 36.7% |
| Jul-2024 | 7.0% | 23.7% | 37.7% |
| Aug-2024 | 7.1% | 24.2% | 37.5% |
| Sep-2024 | 7.3% | 24.7% | 37.4% |
| Oct-2024 | 7.5% | 25.2% | 38.2% |
| Nov-2024 | 7.7% | 25.6% | 38.1% |
| Dec-2024 | 8.0% | 26.1% | 38.2% |
| Jan-2025 | 8.2% | 26.5% | 39.0% |
| Feb-2025 | 8.4% | 26.9% | 40.0% |
| Mar-2025 | 8.6% | 27.4% | 40.3% |
Notes: Each month represents a 12-month moving average leading up to that month; for instance, March 2025 represents the average value from April 2024 to March 2025.
Source: EPI analysis of the Current Population Survey Outgoing Rotation Group microdata, EPI Current Population Survey Extracts, Version 1.0.62 (2025), https://microdata.epi.org and Bureau of Labor Statistics (BLS) price indices.