American workers have seen little improvement in their purchasing power since President Donald Trump returned to office, with pay increases largely offset by rising prices over the past 18 months.
Average hourly earnings rose 3.5% in June from a year earlier, matching the annual inflation rate of 3.5% over the same period. After adjusting for inflation, workers are earning about 27 cents more per hour than they were in January 2025, leaving many households with little sense that their financial situation has materially improved.
