Adjusting for inflation, wages and salaries declined 1.2% for the 12 months ending December, according to the Bureau of Labor Statistics' Employment Cost Index.

Source: https://krdo.com/news/2023/02/21/low-wages-linked-with-elevated-mortality-risk-for-middle-age-workers-in-the-us-study-finds/

“We’ve seen average hourly earnings and now the Employment Cost Index abating a little bit still off of their highs of six months ago and more, but still at levels that are fairly elevated,” he said.

Source: https://qz.com/why-the-fed-still-isnt-planning-a-rate-cut-this-year-1850065595