Elise Gould and Katherine deCourcy at the Economic Policy Institute (EPI) report that in stark contrast to prior decades, low-wage Workers experienced dramatically fast real wage growth between 2019 and 2023, but many Workers continue to suffer from grossly inadequate wages - and middle wage Workers face significant gaps across demographic groups.  Key findings of the EPI report found: Real wages of Low-Wage Workers grew 12.1% between 2019 and 2023.  Wage growth among low- and middle-wage Workers over the pandemic business cycle has outpaced not only higher wage groups over the same period, but also its own growth compared to the prior four business cycles; Between 2019 and 2023, State-level minimum wage increases along with a tight labor market have translated into faster real wage growth for low-wage Workers, particularly faster growth in States (and in Washington, D.C.) that increased their minimum wage during this period; Wage rates remain insufficient for individuals and families working to make ends meet.  Nowhere can a Worker at the 10th percentile of the wage distribution earn enough to meet a basic family budget; and Black Men, young workers and Working Mothers experienced particularly fast wage growth over the last four years.  After growing for many groups in the prior 40 years, key wage gaps narrowed between 2019 and 2023, but still remain large.

To Read This EPI Report In Its Entirety, Go To: Fastest wage growth over the last four years among historically disadvantaged groups: Low-wage workers’ wages surged after decades of slow growth | Economic Policy Institute (epi.org)