Inflation has not stored with wage progress during the last 12 months.
Determine 1: Cumulative progress of common hourly earnings from CES adjusted by Chained CPI (blue), leisure and hospitality providers (tan), median common hourly earnings calculated from CPS information (teal squares), relative to 2019M09. CES hourly wages for manufacturing and non-supervisory employees. NBER outlined peak-to-trough recession dates shaded grey. Supply: BLS, Atlanta Fed, NBER and creator’s calculations.
