Wage growth in the United States has lagged behind inflation for most of President Biden’s term in office, with average hourly pay today below what it was in January 2021.
However, in the last year and overall since the pandemic, wage growth has outpaced inflation, a fact the White House has celebrated as Biden seeks re-election to a second term in November.
“Inflation is down two-thirds from its peak and annual core inflation is the lowest since May 2021. Wages are rising faster than prices over the last year and…
