cross-posted from: https://exploding-heads.com/post/68544

In the United States, the average decline in real wages for the entire population - across all sectors and income levels - was just over 2 percent year-on-year in the third quarter of 2022.

In Europe, Germany and Spain saw even more pronounced declines in purchasing power, with real incomes falling by just over 4 percent and 5 percent, respectively, nationwide.

Switzerland is for the time being one of the few economies analyzed that seems to have been spared.