What is happening to US wages?

Economists disagree over causes of real wage stagnation


Nominal wages are growing rapidly in the US, but real wages are not keeping pace. Economists who spoke to Central Banking have a range of views on the effects this will have on the US economy and Federal Reserve policy.

In January 2023, Atlanta Fed figures show year-on-year median nominal wage growth in the US was 6.1%. It grew by the same amount in December 2022, and by 6.4% in November.

Real average hourly earnings fell 1.8% seasonally adjusted, year-on-year in January 2023, the US Bureau of

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