Post #27783 by ptheland on the US Policy board

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Curious, though. Wages have kept up and then some.

Average hourly wage of US workers in 2020: $28.00

Average hourly wage of US workers in 2024: $35.00

I'm not sure I'd include the "and them some" part. Plugging those dates and numbers into here:
https://www.usinflationcalculator.com/

I get this:
If in 2020 I purchased an item for $28.00
then in 2024 that same item would cost: $34.11

Just barely "and then some." Adjusted for the timing of the wage increases, which almost certainly lagged inflation, we're just at the catch up point now.

But in the big picture, you're right on the money. Average wages have kept pace with inflation. No more, no less. Wages for workers have seen no increase over inflation.

Most people have a hard time using those higher wages to pay higher prices. But prices aren't going down. If they did, that's DEflation and very, VERY bad for an economy.

--Peter

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