Blaze Media
The real wages of America’s workforce are falling rapidly.
Wage growth is falling further and further behind as inflation continues to spiral out of control, the Washington Examiner reported.
The average hourly earnings for fall employees on private nonfarm payrolls rose by only 0.3% in April. This is lower than what was expected by economists, and according to data released from the Bureau of Labor Statistics this past Fredy, nominal earnings have increased 5.5% on an annual basis.
This earnings growth rate is far below the rate of inflation. Although April’s inflation numbers are not yet available, the Consumer Price Index grew by 8.5% in the year ending in March.
