The median weekly earnings of full-time workers in America jumped more than 10% in the second quarter from a year earlier, the U.S. Bureau of Labor Statistics reported today. The data marks the largest increase in the four decades that the agency has tracked it but is skewed by a more sobering reality: massive job losses among lower-wage workers.
The trend first started to become clear in labor-market data in April, after businesses across the U.S. shuttered to stem the spread of the virus, putting millions out of work. It’s become more pronounced since.
Median weekly earnings of the nation’s 104.5 million full-time salaried workers surpassed $1,000 for the first time as of June 30, according to the report.