Wages were increasing more-quickly than inflation when Biden left office. We had a high rate of inflation, at which point inflation grew more quickly than wages, during the COVID-19 pandemic. That produces a decline in real wages. However, that relationship had reversed by the time Biden left office.
Wages were increasing more-quickly than inflation when Biden left office. We had a high rate of inflation, at which point inflation grew more quickly than wages, during the COVID-19 pandemic. That produces a decline in real wages. However, that relationship had reversed by the time Biden left office.