Only a handful of US workers have seen wages outpace inflation since 2021
The US might be past peak inflation, but Americans are still feeling beat down by soaring prices., slowing slightly from the pace seen in March and hinting that price growth is finally starting to slow. The month-over-month gain of just 0.3% reflected an even faster and more encouraging cooldown when compared to the 1.2% increase posted in March. After a year of elevated inflation, the price surge seems to be easing up.
The following chart shows how inflation-adjusted average hourly earnings for different industries have changed since January 2021: Leisure and hospitality workers, meanwhile, were the only ones to see wage growth surpass the impact of inflation. The cohort's real wages are up 4.3% from levels seen in January 2021, according to government data.
The latest inflation data, however, shows few other groups even coming close to enjoying real wage growth since early 2021. Transportation and warehousing employees fared the second-best after leisure and hospitality workers, but even they faced a 1.2% drop in inflation-adjusted wages.
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