Arin Dube: Updated price data shows that wage growth continues to outpace price growth, leading to a strong real wage increase. For non-managerial workers (80% of workforce), real average hourly earnings are higher than expected based on pre-pandemic (2015-19) trends.

Updated price data shows that wage growth continues to outpace price growth, leading to a strong real wage increase. For non-managerial workers (80% of workforce), real average hourly earnings are higher than expected based on pre-pandemic (2015-19) trends.

could make the argument we are where we would have been sans pandemic.

will be interesting to see if the Nov-Dec gains are sustained. If so, another reason to worry that the Fed holds rates even longer.

what if you simply used 2017-2019? you would see that slope even better.

Did you use all of the 2019 data? It sort of looks like that line should have a steeper slope.

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