- US workers' median weekly earnings increased 6.1% YoY in Q1 2023, while inflation was 5.8%.
- Wage gains had lagged inflation for the past two years.
- Companies are still raising pay to attract and retain workers.
- Women's earnings climbed to 84% of men's, hovering near a record in data back to 1979.
US Paychecks Are Outpacing Inflation
US workers are starting to see pay gains run faster than inflation, amplifying their purchasing power and giving the Federal Reserve reason to raise interest rates again next month.
Molly Smith
