What was lacking — in July, as in every other month in the past several years — was any appreciable growth in wages. Average hourly earnings for all private-sector employees rose by 0.5 cents, to $24.99. Take away the minority of employees who are bosses, and the increase was just 0.3 cents, to $21.01 an hour, or $42,000 a year for a full-time job.
Over all, the average annualized growth rate for wages over the past three months comes to 1.9 percent, barely outpacing inflation.
There is more here, from Teresa Tritch. And here is a good article on real wages in Spain. Spain has a well above average recovery in Europe, in part because it is allowing its Great Reset to proceed:
The desperation among job seekers is now so acute that many accept work contracts that pay less than the country’s reduced minimum wage — often by agreeing on paper to work two days a week, but actually working many more unpaid hours, experts say. And some, returning to their old jobs, are finding that they must take huge pay cuts.
“A new figure has emerged in Spain: the employed person who is below the poverty threshold…”