Real wage growth has returned to its pre-pandemic pace and the gender wage gap has reached its narrowest point on record

In the year through Q2 2023, over-the-year real wage growth finally returned to the pre-pandemic pace of about 1.7%, according to data released today by the U.S. Bureau of Labor Statistics. Wages still have considerable ground to make up, following two quarters of sub-trend growth, and six straight quarters of real wage declines before that.