In December 2024, inflation amounted to 2.9 percent, while wages grew by 4.2 percent. The inflation rate has not exceeded the rate of wage growth since January 2023. Inflation in 2022 The high rates of inflation in 2022 meant that the real terms value of American wages took a hit. Many Americans report feelings of concern over the economy and a worsening of their financial situation. The inflation situation in the United States is one that was experienced globally in 2022, mainly due to COVID-19 related supply chain constraints and disruption due to the Russian invasion of Ukraine. The monthly inflation rate for the U.S. reached a 40-year high in June 2022 at 9.1 percent, and annual inflation for 2022 reached eight percent. Without appropriate wage increases, Americans will continue to see a decline in their purchasing power. Wages in the U.S. Despite the level of wage growth reaching 6.7 percent in the summer of 2022, it has not been enough to curb the impact of even higher inflation rates. The federally mandated minimum wage in the United States has not increased since 2009, meaning that individuals working minimum wage jobs have taken a real terms pay cut for the last twelve years. There are discrepancies between states - the minimum wage in California can be as high as 15.50 U.S. dollars per hour, while a business in Oklahoma may be as low as two U.S. dollars per hour. However, even the higher wage rates in states like California and Washington may be lacking - one analysis found that if minimum wage had kept up with productivity, the minimum hourly wage in the U.S. should have been 22.88 dollars per hour in 2021. Additionally, the impact of decreased purchasing power due to inflation will impact different parts of society in different ways with stark contrast in average wages due to both gender and race.

In 2023, the average annual real wages in the United States amounted to 80,115 U.S. dollars. This shows the average annual wages in the United States from 2000 to 2023 in constant 2023 PPP-adjusted U.S. dollars.

In 2023, the average annual wage in California was 91,700 U.S. dollars, an increase from the year prior, when the average wage in the U.S. state was 87,919. The average annual wages are expected to rise in California, with the annual wage in 2027 estimated to reach over 105,000 U.S. dollars.

Forecast: Wages and Salaries in Scientific Research and Development in the US 2022 - 2026 Discover more data with ReportLinker!

In 2023, the usual median hourly rate of a worker's wage in the United States was 19.24 U.S. dollars, a decrease from the previous year. Dollar value is based on 2023 U.S. dollars. In 1979, the median hourly earnings in the U.S. was 17.48 dollars.

Compared to the mid-20th century, wage increases in the United States' industrial sector did not change as drastically over the preceding 150 years. Industrial wages in the 1800s peaked in the final year of the American Civil War in 1865, and they were double the value of wages in 1830; yet wages did not exceed this value until the following century. Throughout the 1900s, however, the increase was much more pronounced; between 1943 and 1955 alone, industrial wages doubled, and quadrupled by 1972. In fact, wages in 1985 were over five times higher than they were in 1955, and ten times higher than in 1943. The only times during the 20th century when industrial wages fell was during the post-WWI recession in 1921, and again during the Great Depression in the 1930s.

This statistic presents a timeline with the real growth of average wages in Latin America and the Caribbean from 2006 to 2017. The source estimated that average salaries in the region had increased 0.7 percent in 2017, compared to the previous year.

Japan recorded the lowest growth rate in average wages of the three advanced major economies included here over recent years. After an increase in wage growth around June and July 2024, the wage growth of Japan fell by around three percent in January 2025.

Between 1914 and 1969, weekly wages in manufacturing industries in the United States grew by a factor of 12. In the first half of the century, the most significant periods of increase came during the World Wars, as manufacturing industries were at the core of the war effort. However, wages then fell sharply after both World Wars, due to post-war recessions and oversaturation of the job market as soldiers returned home. Interwar period Wage growth during the interwar period was often stagnant, despite the significant economic growth during the Roarin' 20s, and manufacturing wages remained steady at around 24 dollars from 1923 to 1929. This was, again, due to oversaturation of the job market, as employment in the agricultural sector declined due to mechanization and many rural workers flocked to industrial cities in search of employment. The Great Depression then saw the largest and most prolonged period of decline in manufacturing wages. From September 1929 to March 1933, weekly wages fell from 24 dollars to below 15 dollars, and it would take another four years for them to return to pre-Depression levels. Postwar prosperity After the 1945 Recession, the decades that followed the Second World War then saw consistent growth in manufacturing wages in almost every year, as the U.S. cemented itself as the foremost economic power in the world. This period is sometimes referred to as the Golden Age of Capitalism, and the U.S. strengthened its economic presence in Western Europe and other OECD countries, while expanding its political and military presence across Asia. Manufacturing and exports played a major role in the U.S.' economic growth in this period, and wages grew from roughly 40 dollars per week in 1945 to more than 120 dollars by the late 1960s.

Contains data from the World Bank's data portal. There is also a consolidated country dataset on HDX.

Economic growth is central to economic development. When national income grows, real people benefit. While there is no known formula for stimulating economic growth, data can help policy-makers better understand their countries' economic situations and guide any work toward improvement. Data here covers measures of economic growth, such as gross domestic product (GDP) and gross national income (GNI). It also includes indicators representing factors known to be relevant to economic growth, such as capital stock, employment, investment, savings, consumption, government spending, imports, and exports.

Contains data from the World Bank's data portal. There is also a consolidated country dataset on HDX.

Economic growth is central to economic development. When national income grows, real people benefit. While there is no known formula for stimulating economic growth, data can help policy-makers better understand their countries' economic situations and guide any work toward improvement. Data here covers measures of economic growth, such as gross domestic product (GDP) and gross national income (GNI). It also includes indicators representing factors known to be relevant to economic growth, such as capital stock, employment, investment, savings, consumption, government spending, imports, and exports.

United States buy now pay later market size is projected to exhibit a growth rate (CAGR) of 24.50% during 2024-2032. The rising preferences of individuals for flexibility in payment options, rapid growth of the e-commerce industry, and the integration of BNPL services with popular mobile wallets represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on channel, enterprise size, and end use.

In November 2024, the average hourly earnings of all employees in the United States was at 11.25 U.S. dollars. The data have been seasonally adjusted. The deflators used for constant-dollar earnings shown here come from the Consumer Price Indexes Programs. The Consumer Price Index for All Urban Employees (CPI-U) is used to deflate the data for all employees. A comparison of the rate of wage growth versus the monthly inflation since 2020 rate can be accessed here. Real wages are wages that have been adjusted for inflation.

What is the COVID-19 Economic Vulnerability Index?The COVID-19 Vulnerability Index (CVI) is a measurement of the negative impact that the coronavirus (COVID-19) crisis can have on employment based upon a region's mix of industries. For example, accommodation and food services are projected to lose more jobs as a result of the coronavirus (in the neighborhood of 50%) compared with utilities and healthcare (with none or little expected job contraction).This updated dataset contains 116 jobs attributes including the 10 most likely jobs to be impacted for each county, the total employment and employment by sector. An attribute list is included below.An average Vulnerability Index score is 100, representing the average job loss expected in the United States. Higher scores indicate the degree to which job losses may be greater — an index score of 200, for example, means the rate of job loss can be twice as large as the national average. Conversely, an index score of 50 would mean a possible job loss of half the national average. Regions heavily dependent on tourism with relatively high concentrations of leisure and hospitality jobs, for example, are likely to have high index scores. The Vulnerability Index only measures the impact potential related to the mix of industry employment. The index does not take into account variation due to a region’s rate of virus infection, nor does it factor in local government's policies in reaction to the virus. For more detail, please see this description.MethodologyThe index is based on a model of potential job losses due to the COVID-19 outbreak in the United States. Expected employment losses at the subsector level are based upon inputs which include primary research on expert testimony; news reports for key industries such as hotels, restaurants, retail, and transportation; preliminary release of unemployment claims; and the latest job postings data from Chmura's RTI database. The forecast model, based on conditions as of March 23, 2020, assumes employment in industries in each county/region would change at a similar rate as employment in national industries. The projection estimates that the United States could lose 15.0 million jobs due to COVID-19, with over half of the jobs lost in hotels, food services, and entertainment industries. Contact Chmura for further details.Attribute ListFIPSCounty NameStateTotal JobsWhite Collar JobsBlue Collar JobsService JobsWhite Collar %Blue Collar %Service %Government JobsGovernment %Primarily Self-Employed JobsPrimarily Self-Employed %Job Change, Last Ten YearsIndustry 1 NameIndustry 1 EmplIndustry 1 %Industry 2 NameIndustry 2 EmplIndustry 2 %Industry 3 NameIndustry 3 EmplIndustry 3 %Industry 4 NameIndustry 4 EmplIndustry 4 %Industry 5 NameIndustry 5 EmplIndustry 5 %Industry 6 NameIndustry 6 EmplIndustry 6 %Industry 7 NameIndustry 7 EmplIndustry 7 %Industry 8 NameIndustry 8 EmplIndustry 8 %Industry 9 NameIndustry 9 EmplIndustry 9 %Industry 10 NameIndustry 10 EmplIndustry 10 %All Other IndustriesAll Other Industries EmplAll Other Industies %Agriculture, Food & Natural Resources EmplArchitecture and Construction EmplArts, A/V Technology & Communications EmplBusiness, Management & Administration EmplEducation & Training EmplFinance EmplGovernment & Public Administration EmplHealth Science EmplHospitality & Tourism EmplHuman Services EmplInformation Technology EmplLaw, Public Safety, Corrections & Security EmplManufacturing EmplMarketing, Sales & Service EmplScience, Technology, Engineering & Mathematics EmplTransportation, Distribution & Logistics EmplAgriculture, Food & Natural Resources %Architecture and Construction %Arts, A/V Technology & Communications %Business, Management & Administration %Education & Training %Finance %Government & Public Administration %Health Science %Hospitality & Tourism %Human Services %Information Technology %Law, Public Safety, Corrections & Security %Manufacturing %Marketing, Sales & Service %Science, Technology, Engineering & Mathematics %Transportation, Distribution & Logistics %COVID-19 Vulnerability IndexAverage Wages per WorkerAvg Wages Growth, Last Ten YearsUnemployment RateUnderemployment RatePrime-Age Labor Force Participation RateSkilled Career 1Skilled Career 1 EmplSkilled Career 1 Avg Ann WagesSkilled Career 2Skilled Career 2 EmplSkilled Career 2 Avg Ann WagesSkilled Career 3Skilled Career 3 EmplSkilled Career 3 Avg Ann WagesSkilled Career 4Skilled Career 4 EmplSkilled Career 4 Avg Ann WagesSkilled Career 5Skilled Career 5 EmplSkilled Career 5 Avg Ann WagesSkilled Career 6Skilled Career 6 EmplSkilled Career 6 Avg Ann WagesSkilled Career 7Skilled Career 7 EmplSkilled Career 7 Avg Ann WagesSkilled Career 8Skilled Career 8 EmplSkilled Career 8 Avg Ann WagesSkilled Career 9Skilled Career 9 EmplSkilled Career 9 Avg Ann WagesSkilled Career 10Skilled Career 10 EmplSkilled Career 10 Avg Ann Wages

The average real wages worldwide saw an increase every year since 2006. However, in 2022, the aftermath of the COVID-19 pandemic and the rising inflation rates in led to a decrease in real average wages worldwide. In 2023, real global wage growth was positive again.

BMW addresses U.S. tariff impacts but remains positive about market growth opportunities amid stable demand and strong economic conditions.

Demobilization following the First World War saw millions of soldiers return to their home countries from the trenches, and in doing so, they brought with them another wave of the deadliest and far-reaching pandemic of all time. As the H1N1 influenza virus, known as the Spanish Flu, spread across the world and infected between one third and a quarter of the global population, it impacted all areas of society. One such impact was on workers' wages, as the labor shortage drove up the demand for skilled workers, which then increased wages. In the United States, wages had already increased due to the shortage of workers caused by the war, however the trend increased further in the two or three years after the war, despite the return of so many personnel from overseas.

In the first fifteen years of the twentieth century, wages across the shown industries had increased gradually and steadily in line with inflation, with the hourly wage in manufacturing increasing from roughly 15 cents per hour to 21 cents per hour in this period. Between 1915 and 1921 or 1921 however, the hourly rate more than doubled across most of these industries, with the hourly wage in manufacturing increasing from 21 cents per hour in 1915 to 56 cents per hour in 1920. Although manufacturing wages were the lowest among those shown here, the trend was similar across even the highest paying trades, with hourly wages in the building trade increasing from 57 cents per hour in 1915 to one dollar and eight cents in 1921. The averages of almost all these trades decreased again in 1922, before plateauing or increasing at a slower rate throughout the late 1920s. Other factors, such as the Wall Street Crash of 1929 and subsequent Great Depression, make comparing this data with wages in later decades more difficult, but it does give some insight into the economic effects of pandemics in history.

During the first quarter of 2024, the real hourly compensation in the manufacturing sector in the United States increased by 2.2 percent from the previous quarter. The data are seasonally adjusted at annual rates. Labor compensation includes accrued wages and salaries, supplements, employer contributions to employee benefit plans, and taxes.

This statistic shows the median household income in the United States from 1990 to 2023 in 2023 U.S. dollars. The median household income was 80,610 U.S. dollars in 2023, an increase from the previous year. Household incomeThe median household income depicts the income of households, including the income of the householder and all other individuals aged 15 years or over living in the household. Income includes wages and salaries, unemployment insurance, disability payments, child support payments received, regular rental receipts, as well as any personal business, investment, or other kinds of income received routinely. The median household income in the United States varies from state to state. In 2020, the median household income was 86,725 U.S. dollars in Massachusetts, while the median household income in Mississippi was approximately 44,966 U.S. dollars at that time. Household income is also used to determine the poverty line in the United States. In 2021, about 11.6 percent of the U.S. population was living in poverty. The child poverty rate, which represents people under the age of 18 living in poverty, has been growing steadily over the first decade since the turn of the century, from 16.2 percent of the children living below the poverty line in year 2000 to 22 percent in 2010. In 2021, it had lowered to 15.3 percent. The state with the widest gap between the rich and the poor was New York, with a Gini coefficient score of 0.51 in 2019. The Gini coefficient is calculated by looking at average income rates. A score of zero would reflect perfect income equality and a score of one indicates a society where one person would have all the money and all other people have nothing.

Guatemala recorded the highest wage growth worldwide in 2022 with an increase of 26 percent when using purchasing power parity U.S. dollars. Colombia and Vietnam followed behind. Worldwide, real wages fell by nearly one percent in 2022.