Running in Place

In Tepid Wage Growth, a Potent Sign of a Still-Fragile Economy. (The New York Times, 5/4/2014)

Average hourly wages for American workers held steady at $24.31 last month. They have increased just 1.9 percent over the previous 12 months. But after adjusting for inflation, real wages have increased by something like 0.5 percent.

Increase in average hourly wage, 2006-2014:  21%.
Adjusted for inflation increase, 2006-2014:  3.5%.