It's official: America's real wages are up under Biden-Harris
With inflation easing, the wages of working-class Americans are finally moving into the plus column. Average hourly pay for production and nonsupervisory workers who make up four-fifths of employees hit $30.27 in August, according to the latest report from the Bureau of Labor Statistics.
According to my organizations analysis, working-class Americans wages, adjusted for inflation, have just edged higher than they were on Election Day, 2020. The average working-class American can now answer Yes to the question, Are you better off now than you were under Donald Trump?
Thats obviously important for political symbolism. But the milestone for real wages also explains a lot about why Americans have felt so badly oppressed by inflation up to now. The price of food and housing matters, but they matter more if price increases exceed wage gains.
Inflation-adjusted, or real, wages are an important measure of economic health because they summarize the balance between rising prices and rising pay.
https://thehill.com/opinion/finance/4882184-rising-wages-working-class-americans/