{"id":265670,"date":"2024-12-01T20:47:52","date_gmt":"2024-12-01T20:47:52","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/12\/01\/wages-nominal-and-real-across-the-distribution\/"},"modified":"2025-06-25T17:10:17","modified_gmt":"2025-06-25T17:10:17","slug":"wages-nominal-and-real-across-the-distribution","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/12\/01\/wages-nominal-and-real-across-the-distribution\/","title":{"rendered":"Wages Nominal and Real across the Distribution"},"content":{"rendered":"

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Reader Michael<\/a> writes:<\/p>\n

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\u2026high income wage growth has grown much faster than medium and low income wage growth patterns.<\/p>\n<\/blockquote>\n

Here\u2019s a stab at taking a look at the data. First wages:<\/p>\n

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Figure 1:<\/strong> Year-on-Year growth rate in average hourly earnings from CES (blue), average wage from CPS (green), median wage from CPS (tan), from 2nd quintile (red), all in %. NBER defined peak-to-trough recession dates shaded gray. Source: BLS, Philadelphia Fed Wage Tracker<\/a>, NBER, and author\u2019s calculations.<\/em><\/p>\n

What about relative to inflation? Here, one would try to match up with the most appropriate deflators. Here\u2019s my attempt.<\/p>\n

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Figure 2:<\/strong> Year-on-Year growth rate in average hourly earnings from CES, deflated by CPI-U (blue), average wage from CPS, deflated by CPI-wage earners (green), median wage from CPS, deflated by median household income CPI (tan), from 2nd quintile deflated by 2nd quintile household income CPI (red), all in %. NBER defined peak-to-trough recession dates shaded gray. Source: BLS, Philadelphia Fed Wage Tracker<\/a>, BLS<\/a>, NBER, and author\u2019s calculations.<\/em><\/p>\n

So year-on-year real wage growth has been positive from between 2022M10 to 2023M02 onward.<\/p>\n

\u00a0<\/p>\n<\/p><\/div>\n

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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

[ad_1] Reader Michael writes: \u2026high income wage growth has grown much faster than medium and low income wage growth patterns. Here\u2019s a stab at taking<\/p>\n","protected":false},"author":1,"featured_media":265671,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/265670"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=265670"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/265670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/265671"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=265670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=265670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=265670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}