"The cost of living in the United States has rapidly outpaced wage growth in recent years, as the Consumer Price Index soared to multi-decade highs in the last five years. According to the Bureau of Labor Statistics, consumer prices surged by nearly 19% between mid-2020 and mid-2023, while wages for full-time workers climbed by less than 10% over roughly the same period. More recently, however, this trend has reversed."
"As of April 1, 2025, the typical full-time worker in the U.S. earned $1,196 per week, a year-over-year increase of 4.6%. Consumer prices, meanwhile, climbed by just 2.3% over the same 12-month stretch. Rapid wage growth and a deceleration in the change in cost of living are welcome news for households struggling to afford basic necessities, as well as for the broader American economy."
Consumer prices surged nearly 19% between mid-2020 and mid-2023 while wages for full-time workers rose by less than 10% in that period. By April 1, 2025, typical full-time pay reached $1,196 per week, a 4.6% year-over-year increase, while consumer prices rose 2.3% over the same 12 months. Median annual wages climbed 3.0% between 2023 and 2024, rising from $48,060 to $49,500. Community and social services led sector gains with a 10.6% increase; transportation rose 6.7% and installation, maintenance, and repair rose 8.0%. Wage changes vary widely by industry and city.
Read at 24/7 Wall St.
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