Bidenflation Crushed Workers in 2021: Three Worst Annual Real Wage Contractions on Record
Real average hourly earnings–meaning, earnings after inflation–were down 2.4 percent, seasonally adjusted, from December 2020 to December 2021.Inflation-adjusted hourly wages for production and nonsupervisory workers fell 1.9 percent from December 2020 to December 2021.Real hourly wages rose one-tenth of a percentage point from November to December for all workers.