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MoreBack to News Headlines
These workers are the only ones really seeing higher wages

These workers are the only ones really seeing higher wages

CNN
Friday, February 4, 2022 5:39 PM GMT

Lots of workers are getting raises, but for many, the pay hikes won't buy them more at the grocery store or car dealership. In fact, wages are behind where they were when the pandemic began, if you take rising prices into account.

Inflation-adjusted wages, which have been falling steadily since mid-2020, are 1.2% below where they were in December 2019, according to an analysis of Employment Cost Index quarterly data by Jason Furman, an economics professor at Harvard University. The index measures wages and salaries, along with health, retirement and other benefits.

Over the last year, inflation-adjusted wages dropped 2.4%.

Read full story on CNN
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