- 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 seeing pay gains run faster than inflation, with median weekly earnings up 6.1% YoY in Q1 2023, according to the Bureau of Labor Statistics. Women's earnings have reached 84% of men's, potentially affecting the Federal Reserve's decision to raise interest rates in May.