WEAKENING WAGES
08/20/2025 |
Pre-2015, wage growth was consistently higher for high-income workers than low-income ones. Starting in 2015, that began to reverse, and during Covid that new relationship was turbo-charged. Income growth for the bottom fifth of the population at times was twice as fast. Since late 2024, the old relationship has returned, with higher income earners gaining pay raises of roughly 1.5% to 2% more, a large amount, compared to the low-paid.