Real Wages Of Americans Have Declined Almost 4% Since Last Year
Due to the worsening inflation crisis, the real wages of American workers continued to fall during the month of May, according to a new report from the Bureau of Labor Statistics. During May 2022, inflation hit the highest level since December 1981 as prices rose 1% from the previous month and 8.6% from the year before, according to a separate report from the Bureau of Labor Statistics. The 8.6% increase in prices over the last year resulted in a dramatic decrease in the real wages of Americans. The Bureau of Labor Statistics wrote, “Real average hourly earnings decreased 3.0 percent,