April 27, 2023

Average weekly earnings was essentially nchanged in March at $1,141.39 after having declined 0.1% in February.  In the past year weeky earnings have risen 3.3%.  T hat is a respectable gain in nominal earnings.

However, weekly earnings have been eroded by the increase in inflation.  In real terms, weekly earnings fell 0.1% in March to $378.18 after having declined 0.4% in February.  In the past year real weekly eanings have fallen by 1.6%.  The implication is that inflation rose by 4.9% during the past year.

with hourly and weekly earnings continuing to slide, indidvidual workers and unions will continue to push for higher wages.

Stephen Slifer


Charleston, S.C.