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Inflation has not saved with wage development over the past yr.
Determine 1: Cumulative development of common hourly earnings from CES adjusted by Chained CPI (blue), leisure and hospitality companies (tan), median common hourly earnings calculated from CPS knowledge (teal squares), relative to 2019M09. CES hourly wages for manufacturing and non-supervisory employees. NBER outlined peak-to-trough recession dates shaded grey. Supply: BLS, Atlanta Fed, NBER and creator’s calculations.
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