Analyst Ben Casselman stated that rising inflation combined with slowing wage growth means that the real income per hour of work for Americans has shrunk. Inflation-adjusted average hourly earnings fell 0.5% month-on-month in September and declined 0.7% year-on-year. This marks the sixth consecutive month of year-on-year decreases in real wages. The current average real hourly wage has returned to the level it was at during President Trump's second inauguration. In other words, since his return to the White House, the overall real wages of American citizens have seen zero growth. Nominal hourly wages, unadjusted for inflation, have risen 5.5% since January 2025, while prices during the same period have increased by 5.44%.