Heritage Basis’s EJ Antoni shared this graph of the CPI degree:
Apart from together with the pandemic period worth degree, I considered what occurred to actual wages. These have risen quicker put up 2022M07.
Determine 1: CPI deflated common hourly earnings (black), and 2017M01-2019M12 development (pink), and 2022M07-2024M12 development (gentle blue), in 2023$. Stochastic tendencies estimated on logged values. NBER outlined peak-to-trough recession dates shaded grey. Supply: BLS by way of FRED, NBER, and creator’s calculations.
