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Inflation Has Forced U.S. Workers Into a 2% Pay Cut

·3 min read

In June, U.S. workers saw their wages increase by 3.6% compared to a year prior, according to data from the Economic Policy Institute. Quite the contrary when we look at real wages, which measure workers' income after accounting for common living costs. According to the U.S. Bureau of Labor Statistics, real wages fell by almost 2% on average last month compared to where they sat a year before.