MISH

Key Points

For all workers, real (inflation-adjusted) wages declined nearly 0.8 percent in February.

For all workers,  real  wages declined for the 12th time in 14 months.

For production and nonsupervisory workers, real wages declined nearly 0.6 percent in February.

For production and nonsupervisory workers, real wages declined for the 10th time in the last 14 months.   

The CPI has been on a tear. It is rising faster than wages for over a year accountingfor the drop in real wages.

Year-over-year the CPI is up 7.9%. 

Real Wage Key Points 

Real year-over-year wages have fallen 11 times in the past year. 

For all employees, real wages are down 2.58% in the past year.

For production and nonsupervisory workers, real wages are down 1.86% in the past year.

Key Hourly Earnings Points 

In February of 1973 real hourly earnings for production and nonsupervisory workers were $9.38 per hour. 

In February of 2022 real hourly earnings for production and nonsupervisory workers were $9.63 per hour. 

In the last 49 years, real hourly wages have risen by a grand total of 25 cents per hour. 

In the last 49 years wages have risen about half of a penny per hour per year, and that assumes you believe the CPI is accurate.