Despite improvement in the labor market, many workers are barely treading water as their wages fail to keep up with rising prices.
Average hourly earnings for all private-sector workers, including salaried employees, were flat in March from the previous month at $22.87. Wages have moved little in the past six months despite consistent job gains during that period.
Compared with a year earlier, average hourly earnings were up just 1.7% in March. Inflation is running above 2%, largely due to higher energy and food prices, which means workers’ average inflation-adjusted wages have declined.
Full Story: Wages Fail to Keep Up With Inflation – WSJ.com