Professor of Public Affairs and Economics at the University of Wisconsin•
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Real median weekly earnings for production workers and high school graduates retreated in Q3. This downturn signals weakening purchasing power for a key segment of the labor force as wage gains lag behind inflation.
Overall, for HS graduates:
Figure 1: Real median weekly wages for all production and nonsupervisory workers (blue), for high school graduates (2nd quartile) (red), in logs 2024Q4=0. NBER defined peak to trough recession dates shaded gray. Source: BLS, NBER, and author’s calculations.
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