Real Weekly Earnings Down in Q3
Original Report
Overall, for HS graduates: Figure 1: Real median weekly wages for all production and nonsupervisory workers (blue), for high school graduates (2nd quartile) (red), in logs 2024Q4=0. NBER defined peak...
Overall, for HS graduates: Figure 1: Real median weekly wages for all production and nonsupervisory workers (blue), for high school graduates (2nd quartile) (red), in logs 2024Q4=0. NBER defined peak to trough recession dates shaded gray. Source: BLS, NBER, and author’s calculations.
Glass House Analysis
Labor market conditions shape the lived experience of millions of working families. When jobs are plentiful, workers have leverage to demand better wages and conditions; when they're scarce, the balance of power shifts to employers. This dynamic plays out daily in kitchen tables across America, where families make decisions about whether to ask for a raise, change jobs, or accept less-than-ideal conditions out of necessity.
The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.
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