Fun fact for today. From January 2021 through August 2024, the aggregate weekly paycheck for nonfarm employees (private nonfarm payroll times average weekly earnings) has increased by 29.3%. In this same time period, the CPI has increased by 19.7%. So, the weekly values of of workers' paychecks have increased faster than the cost of living as measured by the CPI.
Aggregate weekly paychecks have steadily increased