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Patrick RussoVisualization
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<p>Despite the highest inflation in 40-years, real wages are higher than pre-pandemic as of March 2022. Real wages in March 2022, as calculated by the ratio of Avg. Hrly Earnings to CPI, is actually up 1.8% since Jan 2020!</p><p><br /></p><p>Average Hourly Earnings are of Production and Nonsupervisory Employees, Total Private, which Paul Krugman used in his Jan 25th op-ed discussing </p><p>the inflation narrative.</p><p><br /></p><p>Source: <a href="https://app.openaxis.com/data/3690" target="_blank">Ratio of Average Hourly Earnings to CPI</a></p><p><br /></p><p><span data-index="0" data-denotation-char data-id="0" data-value="&lt;a href=&quot;/search?q=%23economy&quot; target=_self&gt;#economy" data-link="/search?q=%23economy"><span contenteditable="false"><span></span><a href="/search?q=%23economy" target="_self">#economy</a></span></span> <span data-index="0" data-denotation-char data-id="0" data-value="&lt;a href=&quot;/search?q=%23inflation&quot; target=_self&gt;#inflation" data-link="/search?q=%23inflation"><span contenteditable="false"><span></span><a href="/search?q=%23inflation" target="_self">#inflation</a></span></span> <span data-index="0" data-denotation-char data-id="0" data-value="&lt;a href=&quot;/search?q=%23wages&quot; target=_self&gt;#wages" data-link="/search?q=%23wages"><span contenteditable="false"><span></span><a href="/search?q=%23wages" target="_self">#wages</a></span></span> </p>

Despite the highest inflation in 40-years, real wages are higher than pre-pandemic as of March 2022. Real wages in March 2022, as calculated by the ratio of Avg. Hrly Earnings to CPI, is actually up 1.8% since Jan 2020!


Average Hourly Earnings are of Production and Nonsupervisory Employees, Total Private, which Paul Krugman used in his Jan 25th op-ed discussing

the inflation narrative.


Source: Ratio of Average Hourly Earnings to CPI


#economy #inflation #wages

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Patrick RussoVisualization
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<p>Despite the highest inflation in 40-years, real wages are higher than pre-pandemic.</p><p>Real wages, as calculated by the ratio of Avg. Hrly Earnings to CPI is actually up 3% since Jan 2020!</p><p>Average Hourly Earnings are of Production and Nonsupervisory Employees, Total Private, which Paul Krugman used in his Jan 25th op-ed discussing the inflation narrative. </p><p><br /></p><p><a href="/search?q=%23economy" target="_self">#economy</a> <a href="/search?q=%23inflation" target="_self">#inflation</a> <a href="/search?q=%23wages" target="_self">#wages</a> </p>

Despite the highest inflation in 40-years, real wages are higher than pre-pandemic.

Real wages, as calculated by the ratio of Avg. Hrly Earnings to CPI is actually up 3% since Jan 2020!

Average Hourly Earnings are of Production and Nonsupervisory Employees, Total Private, which Paul Krugman used in his Jan 25th op-ed discussing the inflation narrative.


#economy #inflation #wages

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Patrick RussoVisualization
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<p>Year over year inflation</p><p><br /></p><p><a href="/search?q=%23economy" target="_self">#economy</a> <a href="/search?q=%23inflation" target="_self">#inflation</a> <a href="/search?q=%23wages" target="_self">#wages</a> </p>

Year over year inflation


#economy #inflation #wages

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Patrick RussoVisualization
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<p>A lot of people are focusing on y/y but last year was not a normal year. We should look at total CPI and wage increase since the start of the pandemic.  </p><p>Since Jan 2020 CPI is up 9%</p><p>Since Jan 2020 Average Hourly Earnings are up 12.6%</p><p><br /></p><p><a href="/search?q=%23economy" target="_self">#economy</a> <a href="/search?q=%23inflation" target="_self">#inflation</a> </p>

A lot of people are focusing on y/y but last year was not a normal year. We should look at total CPI and wage increase since the start of the pandemic.

Since Jan 2020 CPI is up 9%

Since Jan 2020 Average Hourly Earnings are up 12.6%


#economy #inflation