Wages have strengthened markedly in recent months -- with some measures rising by the most on record -- but higher consumer prices are eroding Americans’ buying power.
Inflation-adjusted average hourly earnings fell 1.2% in October from a year earlier, separate data showed Wednesday.
-With assistance from Chris Middleton, Reade Pickert, Sophie Caronello, Michael McDonough (Economist) and Scott Lanman.
This article was provided by Bloomberg News.