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Average Nominal Hourly Earnings . An economist is examining wage growth in the United States. She has collected data on average nominal hourly earnings for

Average Nominal Hourly Earnings. An economist is examining wage growth in the United States. She has collected data on average nominal hourly earnings for workers in the United States between 2006 and 2020, which are shown in the following chart (data is also below). Her conclusion is that hourly earnings for workers in the United States have been steadily growing since 2006.

a) How might this conclusion be incorrect?

b) How can she modify these data to investigate the appropriateness of this conclusion?

Date Average Nominal Hourly Earnings ($) Price Index

3/1/2006 20.04 199.700

4/1/2006 20.17 200.700

5/1/2006 20.13 201.300

6/1/2006 20.22 201.800

7/1/2006 20.30 202.900

8/1/2006 20.31 203.800

9/1/2006 20.41 202.800

10/1/2006 20.44 201.900

11/1/2006 20.48 202.000

12/1/2006 20.57 203.100

1/1/2007 20.59 203.437

2/1/2007 20.67 204.226

3/1/2007 20.72 205.288

4/1/2007 20.79 205.904

5/1/2007 20.84 206.755

6/1/2007 20.95 207.234

7/1/2007 20.96 207.603

8/1/2007 21.00 207.667

9/1/2007 21.04 208.547

10/1/2007 21.06 209.190

11/1/2007 21.12 210.834

12/1/2007 21.18 211.445

1/1/2008 21.19 212.174

2/1/2008 21.26 212.687

3/1/2008 21.36 213.448

4/1/2008 21.37 213.942

5/1/2008 21.47 215.208

6/1/2008 21.52 217.463

7/1/2008 21.59 219.016

8/1/2008 21.70 218.690

9/1/2008 21.72 218.877

10/1/2008 21.76 216.995

11/1/2008 21.88 213.153

12/1/2008 21.94 211.398

1/1/2009 21.97 211.933

2/1/2009 21.99 212.705

3/1/2009 22.06 212.495

4/1/2009 22.09 212.709

5/1/2009 22.10 213.022

6/1/2009 22.13 214.790

7/1/2009 22.18 214.726

8/1/2009 22.23 215.445

9/1/2009 22.26 215.861

10/1/2009 22.31 216.509

11/1/2009 22.36 217.234

12/1/2009 22.36 217.347

1/1/2010 22.41 217.488

2/1/2010 22.45 217.281

3/1/2010 22.45 217.353

4/1/2010 22.49 217.403

5/1/2010 22.53 217.290

6/1/2010 22.53 217.199

7/1/2010 22.59 217.605

8/1/2010 22.62 217.923

9/1/2010 22.67 218.275

10/1/2010 22.74 219.035

11/1/2010 22.73 219.590

12/1/2010 22.76 220.472

1/1/2011 22.85 221.187

2/1/2011 22.87 221.898

3/1/2011 22.87 223.046

4/1/2011 22.92 224.093

5/1/2011 22.99 224.806

6/1/2011 23.01 224.806

7/1/2011 23.10 225.395

8/1/2011 23.07 226.106

9/1/2011 23.11 226.597

10/1/2011 23.21 226.750

11/1/2011 23.18 227.169

12/1/2011 23.21 227.223

1/1/2012 23.24 227.842

2/1/2012 23.27 228.329

3/1/2012 23.36 228.807

4/1/2012 23.39 229.187

5/1/2012 23.39 228.713

6/1/2012 23.46 228.524

7/1/2012 23.51 228.590

8/1/2012 23.49 229.918

9/1/2012 23.57 231.015

10/1/2012 23.56 231.638

11/1/2012 23.63 231.249

12/1/2012 23.73 231.221

1/1/2013 23.76 231.679

2/1/2013 23.77 232.937

3/1/2013 23.81 232.282

4/1/2013 23.87 231.797

5/1/2013 23.89 231.893

6/1/2013 23.97 232.445

7/1/2013 23.98 232.900

8/1/2013 24.03 233.456

9/1/2013 24.06 233.544

10/1/2013 24.09 233.669

11/1/2013 24.16 234.100

12/1/2013 24.17 234.719

1/1/2014 24.21 235.288

2/1/2014 24.32 235.547

3/1/2014 24.31 236.028

4/1/2014 24.34 236.468

5/1/2014 24.40 236.918

6/1/2014 24.44 237.231

7/1/2014 24.48 237.498

8/1/2014 24.55 237.460

9/1/2014 24.56 237.477

10/1/2014 24.58 237.430

11/1/2014 24.65 236.983

12/1/2014 24.65 236.252

1/1/2015 24.73 234.747

2/1/2015 24.78 235.342

3/1/2015 24.84 235.976

4/1/2015 24.89 236.222

5/1/2015 24.96 237.001

6/1/2015 24.98 237.657

7/1/2015 25.00 238.034

8/1/2015 25.10 238.033

9/1/2015 25.11 237.498

10/1/2015 25.19 237.733

11/1/2015 25.24 238.017

12/1/2015 25.27 237.761

1/1/2016 25.36 237.827

2/1/2016 25.38 237.514

3/1/2016 25.45 237.990

4/1/2016 25.53 238.835

5/1/2016 25.58 239.440

6/1/2016 25.63 240.144

7/1/2016 25.70 240.111

8/1/2016 25.72 240.595

9/1/2016 25.77 241.068

10/1/2016 25.88 241.641

11/1/2016 25.91 241.993

12/1/2016 25.94 242.712

1/1/2017 26.00 243.717

2/1/2017 26.08 244.028

3/1/2017 26.11 243.721

4/1/2017 26.17 244.058

5/1/2017 26.21 243.926

6/1/2017 26.27 244.179

7/1/2017 26.36 244.328

8/1/2017 26.38 245.304

9/1/2017 26.51 246.445

10/1/2017 26.48 246.570

11/1/2017 26.55 247.333

12/1/2017 26.64 247.847

1/1/2018 26.71 248.816

2/1/2018 26.75 249.475

3/1/2018 26.84 249.413

4/1/2018 26.91 249.957

5/1/2018 26.98 250.640

6/1/2018 27.04 251.176

7/1/2018 27.11 251.482

8/1/2018 27.22 251.905

9/1/2018 27.31 252.261

10/1/2018 27.36 252.777

11/1/2018 27.44 252.662

12/1/2018 27.54 252.653

1/1/2019 27.58 252.550

2/1/2019 27.69 253.181

3/1/2019 27.76 254.095

4/1/2019 27.81 254.943

5/1/2019 27.87 255.167

6/1/2019 27.96 255.402

7/1/2019 28.05 256.087

8/1/2019 28.16 256.294

9/1/2019 28.16 256.593

10/1/2019 28.24 257.229

11/1/2019 28.34 257.824

12/1/2019 28.37 258.444

1/1/2020 28.43 258.820

2/1/2020 28.52 259.050

3/1/2020 28.69 257.953

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Previous Question Next Question

Date	Average Nominal Hourly Earnings ($)	Price Index
3/1/2006	20.04	199.700
4/1/2006	20.17	200.700
5/1/2006	20.13	201.300
6/1/2006	20.22	201.800
7/1/2006	20.30	202.900
8/1/2006	20.31	203.800
9/1/2006	20.41	202.800
10/1/2006	20.44	201.900
11/1/2006	20.48	202.000
12/1/2006	20.57	203.100
1/1/2007	20.59	203.437
2/1/2007	20.67	204.226
3/1/2007	20.72	205.288
4/1/2007	20.79	205.904
5/1/2007	20.84	206.755
6/1/2007	20.95	207.234
7/1/2007	20.96	207.603
8/1/2007	21.00	207.667
9/1/2007	21.04	208.547
10/1/2007	21.06	209.190
11/1/2007	21.12	210.834
12/1/2007	21.18	211.445
1/1/2008	21.19	212.174
2/1/2008	21.26	212.687
3/1/2008	21.36	213.448
4/1/2008	21.37	213.942
5/1/2008	21.47	215.208
6/1/2008	21.52	217.463
7/1/2008	21.59	219.016
8/1/2008	21.70	218.690
9/1/2008	21.72	218.877
10/1/2008	21.76	216.995
11/1/2008	21.88	213.153
12/1/2008	21.94	211.398
1/1/2009	21.97	211.933
2/1/2009	21.99	212.705
3/1/2009	22.06	212.495
4/1/2009	22.09	212.709
5/1/2009	22.10	213.022
6/1/2009	22.13	214.790
7/1/2009	22.18	214.726
8/1/2009	22.23	215.445
9/1/2009	22.26	215.861
10/1/2009	22.31	216.509
11/1/2009	22.36	217.234
12/1/2009	22.36	217.347
1/1/2010	22.41	217.488
2/1/2010	22.45	217.281
3/1/2010	22.45	217.353
4/1/2010	22.49	217.403
5/1/2010	22.53	217.290
6/1/2010	22.53	217.199
7/1/2010	22.59	217.605
8/1/2010	22.62	217.923
9/1/2010	22.67	218.275
10/1/2010	22.74	219.035
11/1/2010	22.73	219.590
12/1/2010	22.76	220.472
1/1/2011	22.85	221.187
2/1/2011	22.87	221.898
3/1/2011	22.87	223.046
4/1/2011	22.92	224.093
5/1/2011	22.99	224.806
6/1/2011	23.01	224.806
7/1/2011	23.10	225.395
8/1/2011	23.07	226.106
9/1/2011	23.11	226.597
10/1/2011	23.21	226.750
11/1/2011	23.18	227.169
12/1/2011	23.21	227.223
1/1/2012	23.24	227.842
2/1/2012	23.27	228.329
3/1/2012	23.36	228.807
4/1/2012	23.39	229.187
5/1/2012	23.39	228.713
6/1/2012	23.46	228.524
7/1/2012	23.51	228.590
8/1/2012	23.49	229.918
9/1/2012	23.57	231.015
10/1/2012	23.56	231.638
11/1/2012	23.63	231.249
12/1/2012	23.73	231.221
1/1/2013	23.76	231.679
2/1/2013	23.77	232.937
3/1/2013	23.81	232.282
4/1/2013	23.87	231.797
5/1/2013	23.89	231.893
6/1/2013	23.97	232.445
7/1/2013	23.98	232.900
8/1/2013	24.03	233.456
9/1/2013	24.06	233.544
10/1/2013	24.09	233.669
11/1/2013	24.16	234.100
12/1/2013	24.17	234.719
1/1/2014	24.21	235.288
2/1/2014	24.32	235.547
3/1/2014	24.31	236.028
4/1/2014	24.34	236.468
5/1/2014	24.40	236.918
6/1/2014	24.44	237.231
7/1/2014	24.48	237.498
8/1/2014	24.55	237.460
9/1/2014	24.56	237.477
10/1/2014	24.58	237.430
11/1/2014	24.65	236.983
12/1/2014	24.65	236.252
1/1/2015	24.73	234.747
2/1/2015	24.78	235.342
3/1/2015	24.84	235.976
4/1/2015	24.89	236.222
5/1/2015	24.96	237.001
6/1/2015	24.98	237.657
7/1/2015	25.00	238.034
8/1/2015	25.10	238.033
9/1/2015	25.11	237.498
10/1/2015	25.19	237.733
11/1/2015	25.24	238.017
12/1/2015	25.27	237.761
1/1/2016	25.36	237.827
2/1/2016	25.38	237.514
3/1/2016	25.45	237.990
4/1/2016	25.53	238.835
5/1/2016	25.58	239.440
6/1/2016	25.63	240.144
7/1/2016	25.70	240.111
8/1/2016	25.72	240.595
9/1/2016	25.77	241.068
10/1/2016	25.88	241.641
11/1/2016	25.91	241.993
12/1/2016	25.94	242.712
1/1/2017	26.00	243.717
2/1/2017	26.08	244.028
3/1/2017	26.11	243.721
4/1/2017	26.17	244.058
5/1/2017	26.21	243.926
6/1/2017	26.27	244.179
7/1/2017	26.36	244.328
8/1/2017	26.38	245.304
9/1/2017	26.51	246.445
10/1/2017	26.48	246.570
11/1/2017	26.55	247.333
12/1/2017	26.64	247.847
1/1/2018	26.71	248.816
2/1/2018	26.75	249.475
3/1/2018	26.84	249.413
4/1/2018	26.91	249.957
5/1/2018	26.98	250.640
6/1/2018	27.04	251.176
7/1/2018	27.11	251.482
8/1/2018	27.22	251.905
9/1/2018	27.31	252.261
10/1/2018	27.36	252.777
11/1/2018	27.44	252.662
12/1/2018	27.54	252.653
1/1/2019	27.58	252.550
2/1/2019	27.69	253.181
3/1/2019	27.76	254.095
4/1/2019	27.81	254.943
5/1/2019	27.87	255.167
6/1/2019	27.96	255.402
7/1/2019	28.05	256.087
8/1/2019	28.16	256.294
9/1/2019	28.16	256.593
10/1/2019	28.24	257.229
11/1/2019	28.34	257.824
12/1/2019	28.37	258.444
1/1/2020	28.43	258.820
2/1/2020	28.52	259.050
3/1/2020	28.69	257.953