• The U.S. Bureau of Labor Statistics (BLS) reported July 13, real average hourly earnings decreased 3.6%, seasonally adjusted, from June 2021 to June 2022, and decreased 1% from May to June.
• “REAL (inflation-adjusted) hourly earnings DECLINED at the steepest in four decades in June,” Joel Griffith, Heritage Foundation research fellow and economist, wrote in a tweet July 14. “For a couple earning $100,000 last year, this is a $3,600 pay cut in 2022.”

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