Business

Average real earnings plunged 3.6% in past year as inflation made workers poorer

By Zach Halaschak

Published July 13, 2022 5:00pm ET

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Average real earnings plunged 3.6% in past year as inflation made workers poorer — A manufacturing worker. | (tunart/Getty Images/iStock)

Soaring inflation means that workers’ real earnings are falling at the fastest rate in decades.

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Federal Reserve Inflation Wages