Smith points out that real hourly compensation — that is, accounting for inflation — actually moved down a notch in the first quarter, when the tax cuts first kicked in. By the reckoning of Payscale, a compensation market research firm, employees are losing ground fast. The firm’s real wage index shows that as of the second quarter, the average worker’s compensation is down by 9.3% compared to its benchmark year of 2006, including the effect of inflation. That’s an enormous drop from the previous quarter, when compensation was down by 7.7% compared to 2006.

Source: Los Angeles Times July 23, 2018 17:15 UTC