• September 29, 2023

Real Average Weekly Earnings Fall for 26th Straight Month Under Biden, as Inflation Outpaces Wage Growth

 Real Average Weekly Earnings Fall for 26th Straight Month Under Biden, as Inflation Outpaces Wage Growth


When inflation is factored in, real average weekly earnings in May marked the 26th consecutive monthly decline, compared to year-ago, the U.S. Bureau of Labor Statistics reported Tuesday.

Real average hourly earnings increased a seasonally adjusted 0.2% from May 2022 to May 2023. But, since the average number of hours worked per week fell by 0.9%, real wages earned were 0.7% lower.

From April 2023 to May 2023, real average weekly earnings declined 0.1%, despite an increase in real average hourly earnings, due to a 0.3% decrease in the average number of hours worked per week.

Compared to the same month year-earlier, the change in real average earnings has now been negative for more than two years. March of 2021, the third month of Joe Biden’s presidency, was the last time real average weekly earnings rose (up 4.1%) over a 12-month period.

That same month, President Biden signed his $1.9 trillion “stimulus” bill.

The very next month, in April, real average weekly wages earned fell 1.4%, beginning the current 26-month drought.

The largest year-to-year decline in real weekly earnings during this streak, 3.8%, was recorded in June of 2022.

The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.

Real Earnings, compared to year-ago.
(Source: U.S. Bureau of Labor Statistics)


% Change in Real Earnings, by month.
% Change in Real Earnings, Year-Over-Year. (Source: U.S. Bureau of Labor Statistics)



MRCTV Reader,

Pointing out leftist media’s misinformation, bias, and outright lies can be like playing a never-ending game of whack-a-mole. Fortunately, MRCTV is up to the task, and they’re experts at doing it.

MRCTV defends conservative values, culture, and politics from attacks by leftist media and provides entertainment to the growing and diverse audience of Americans waking up to the media’s fundamental dishonesty.

MRC has the world’s most extensive video library of TV news and entertainment, which comes in handy when leftists try to deny their past statements. Plus, MRCTV produces original and wildly entertaining video shows and podcasts like “The Brittany Hughes Show,” “Wacky Moments of Liberal Extremism,” “Woke of the Weak,” and “Things That Need To Be Said.”

MRCTV is at the forefront of the fight for honest media and free speech and expression. But we can’t do it alone. We need your help!

Donate today to help MRCTV continue to produce the videos and commentary that promote the First Amendment, mock woke insanity, and neutralize the media’s far-left bias. Your gift of $25 per month goes a long way to help us stand up for conservative values.

— The MRCTV Team


Share on:
Freedom vs Tyranny

Editor @Investigator_50