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In May 2024, the nominal hourly wages for the middle class were reported at $29.99, according to The Bureau of Labor Statistics, based on the latest consumer price index (CPI) and employment data, which is an increase from $29.85 in April 2024. This data reflects a relatively steady upward trend in nominal wages over time. When adjusted for inflation, the actual annual earnings are currently $50,683, a 7% decrease from over 50 years ago. These numbers indicate that despite the nominal wage increase, the purchasing power has diminished over the long term. The COVID-19 pandemic also caused a temporary rise in hourly earnings during April 2020 due to increased demand for temporary work. However, these effects have since normalized.
Consumer Price Index - May 2024 PDF (Bureau of Labor Statistics)
Real Earnings - May 2024 PDF (Bureau of Labor Statistics)
Middle Class Hourly Wages as of May 2024 (VettaFi, 6-13-24)