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Inflation Has Outpaced Wage Growth. Now It’s Cutting Into Spending.
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wsj.comEarly in the Covid-19 pandemic, U.S. wage growth accelerated, as weekly earnings jumped more than 7% in April and May of 2020 compared with the same months a year earlier.
The gain got a boost from low inflation and fewer expenses, bolstering the finances of Americans who kept their jobs.
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