Decidedly up within the latter, even up relative to 2022M02 within the former.

Determine 1: Actual common hourly earnings in complete personal (blue, left log scale), and in leisure and hospitality (tan, proper log scale), in 1982-84$, s.a. April figures deflated utilizing Cleveland Fed nowcast for CPI. NBER outlined peak-to-trough recession dates shaded grey. Supply: BLS, Cleveland Fed, NBER, and writer’s calculations.

If utilizing the PCE deflator, one obtains Determine 2:

Determine 2: Actual common hourly earnings in complete personal (blue, left log scale), and in leisure and hospitality (tan, proper log scale), in 2012$ (PCE deflator), s.a. April figures deflated utilizing Cleveland Fed nowcast for PCE. NBER outlined peak-to-trough recession dates shaded grey. Supply: BLS, BEA, Cleveland Fed, NBER, and writer’s calculations.

Implicitly, I’m addressing a difficulty of inequality, given leisure and hospitality wages are often decrease than the common (as measured by FRED collection AHETPI, proven within the blue strains above.