Wages fail to keep up with inflation

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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.

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