The “average is over” economic recovery proceeds

Average hourly earnings for private-sector American workers rose about 49 cents an hour over the last year, to $24.38 in May. But that wasn’t enough to cover inflation over the year, so in “real” or inflation adjusted terms, hourly worker pay fell 0.1 percent over the last 12 months. Weekly pay shows the same story, also falling 0.1 percent in the year ended in May.

Neil Irwin offers more here.  Many people I know thought my earlier prediction of “falling or stagnant wages during the U.S. recovery” was an absurd prognostication, but so far it seems to be on the mark.  Just wait for The Great Reset.


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