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The United States fared better than others as real wages were 0.8% lower in Q1 of 2024 than in Q4 of 2019.
Canada lost 2.4% of hourly real wages in roughly the same time period, while the loss was even more severe in Australia at 4.8%.
Where Inflation Beats Wage Growth
Inflation has outstripped wage growth in Finland, Italy, Canada, Australia, Japan, the Czech Republic, Sweden and New Zealand according to the OECD Employment Outlook 2024, with real wages decreasing by more than 5% and Sweden seeing wages fall 7.5%
