Average wages across private-sector jobs have grown in recent years, but high inflation has cut into gains

Year-over-year change (%)

Source: U.S. Bureau of Labor Statistics (BLS), Current Employment Statistics (CES) and Consumer Price Index for All Urban Consumers (CPI-U), 2015-2026.
NOTES: Average wages are for all private-sector jobs. Data is not seasonally adjusted. October 2025 CPI data is missing due to a lapse in federal appropriations.
FROM: PPIC Blog, July 2026
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