97% of Salaries Have Failed to Keep Up with Inflation Over Past 5 Years

Over the past five years, salaries in most occupations have not kept up with inflation, which has averaged 5.6% annually, the highest since the early 1980s. Despite significant salary reductions across many industries, including a 10.4% drop in sanitation and environmental conservation jobs, housing prices have surged by 56%. Data from the Bureau of Labor Statistics, the Federal Housing Agency, and Redfin show that if these trends continue, purchasing power will continue to erode, impacting future earnings. The accompanying table provides detailed projections for median salaries adjusted for inflation through 2028.