Inflation-adjusted pay declined in September, Ben Casselman notes

Inflation-adjusted pay declined in September, Ben Casselman notes
Real pay dropped 0.6 percent in September

Wages and salaries, adjusted for inflation, dropped 0.6 percent in September compared with a year earlier.

Ben Casselman highlighted that discussions about a "divide" between sentiment and data are understandable given the decline in real pay.

Casselman previously reported that U.S. inflation rose 3.7 percent over the past year, with core prices climbing at a 3.4 percent annual rate. He has also noted that uncertainty around artificial intelligence complicates drawing firm conclusions on economic effects, as covered in recent analysis. The latest data adds to ongoing discussions about economic sentiment and real wage trends.

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