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Response to Amishman (Reply #6)

Mon Jul 8, 2019, 03:18 PM

10. On wage growth

Real (meaning inflation-adjusted) average hourly earnings of production and non-supervisory workers,
in 1982-1984 dollars
https://data.bls.gov/timeseries/CES0500000032

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2016: 9.18 9.23 9.22 9.21 9.20 9.19 9.21 9.21 9.20 9.21 9.21 9.19
2017: 9.17 9.19 9.21 9.22 9.24 9.26 9.27 9.24 9.23 9.22 9.21 9.22
2018: 9.20 9.20 9.23 9.24 9.24 9.24 9.24 9.27 9.29 9.27 9.32 9.37
2019: 9.39 9.39 9.38 9.37 9.40(P)

No figure for June yet, because the June CPI hasn't come out yet.

Anyway, I don't have the figures to say that inflation-adjusted wage growth (or non-inflation-adjusted wage growth) has been particularly weak, although one would expect more in such a "tight" labor market.

The nominal figures (i.e. not inflation adjusted)
https://data.bls.gov/timeseries/CES0500000008

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