Despite the highest inflation in 40-years, real wages are higher than pre-pandemic.

Real wages, as calculated by the ratio of Avg. Hrly Earnings to CPI is actually up 3% since Jan 2020!

Average Hourly Earnings are of Production and Nonsupervisory Employees, Total Private, which Paul Krugman used in his Jan 25th op-ed discussing the inflation narrative.

#economy #inflation #wages