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Nominal Wage Growth at the Individual Level in 2022
Some workers have seen large changes in their wages over the past year. An analysis looks at who has experienced the most and the least nominal wage growth.
Revisiting Wage Growth in 2023
An analysis finds that nominal wage growth peaked in 2022. In 2023, wages increased but at a slower rate, and growth has yet to return to pre-pandemic levels.
Working Paper
Real Wage Growth at the Micro Level
This paper investigates patterns in real wage growth in 2022 to determine whether wages have kept up with rising price levels, and how this differs among labor market participants. Using the CPS for wages and imputing expenditure data from the CEX, we measure separately nominal wage growth and inflation rates at the micro level. We find that there is more heterogeneity in the former, meaning that when we combine them, an individual’s real wage growth is primarily driven by their nominal wage growth. In 2022, 57% of individuals experienced negative real wage growth, with older and less ...
Journal Article
Real Wage Growth at the Micro Level
This article investigates patterns in real wage growth in 2022 to determine whether wages have kept up with rising price levels and how this differs among labor market participants. Using the consumer price index for wages and imputing expenditure data from the Consumer Expenditure Survey, we separately measure nominal wage growth and inflation rates at the micro level. We find that there is more heterogeneity in the former, meaning that when we combine them, an individual's real wage growth is primarily driven by their nominal wage growth. In 2022, 57 percent of individuals experienced ...