Study: Over a Third of US Workers Experienced Real Wage Declines Between 2021 and 2024
A new working paper published by the Becker Friedman Institute at the University of Chicago found that 37% of US workers saw their real wages fall between 2021 and 2024. The decline in purchasing power is attributed to the period of elevated inflation that followed the COVID-19 pandemic. The findings highlight that wage growth for a significant portion of the workforce did not keep pace with rising prices during this period. The paper adds to ongoing research examining how inflation affected workers' economic wellbeing in the post-pandemic years.
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