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Real Wages under Donald Trump (second term)

Real Wages went from 2.2% in Donald Trump (second term)'s first month to −1.6% at month 21 (the latest reading): a change of −3.8 pts. At that point in office it ranks #7 of 8 administrations since 1969. Official data from the Bureau of Labor Statistics (BLS).

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Month 1
2.2%
Month 21 (latest)
−1.6%
Change
−3.8 pts
Rank at that point
#7 of 8
−5.4%1.9%9.2%Month 1Month 13Month 25Month 37Month 48Carter, month 37: −4.2%Carter, month 40: −6.0%Carter, month 43: −3.3%Carter, month 46: −3.4%Carter, month 48: −3.4%CarterReagan, month 1: −2.2%Reagan, month 4: −1.3%Reagan, month 7: −3.1%Reagan, month 10: −0.9%Reagan, month 13: −0.6%Reagan, month 16: 1.0%Reagan, month 19: 0.7%Reagan, month 22: 0.3%Reagan, month 25: 1.0%Reagan, month 28: 0.0%Reagan, month 31: 1.3%Reagan, month 34: −0.3%Reagan, month 37: −0.6%Reagan, month 40: −0.6%Reagan, month 43: −0.6%Reagan, month 46: 1.3%Reagan, month 48: 1.3%ReaganBush 41, month 1: −1.8%Bush 41, month 4: −0.9%Bush 41, month 7: −0.9%Bush 41, month 10: −0.6%Bush 41, month 13: −1.2%Bush 41, month 16: −0.9%Bush 41, month 19: −2.8%Bush 41, month 22: −3.1%Bush 41, month 25: −0.9%Bush 41, month 28: −2.2%Bush 41, month 31: −0.3%Bush 41, month 34: 0.3%Bush 41, month 37: −0.3%Bush 41, month 40: 0.3%Bush 41, month 43: 0.6%Bush 41, month 46: −0.3%Bush 41, month 48: −0.3%Bush 41Clinton, month 1: 0.0%Clinton, month 4: 1.3%Clinton, month 7: 1.6%Clinton, month 10: 2.2%Clinton, month 13: 0.3%Clinton, month 16: 0.0%Clinton, month 19: −1.6%Clinton, month 22: −1.6%Clinton, month 25: −0.9%Clinton, month 28: −0.9%Clinton, month 31: 1.0%Clinton, month 34: −0.3%Clinton, month 37: −0.3%Clinton, month 40: −0.6%Clinton, month 43: −0.9%Clinton, month 46: 0.0%Clinton, month 48: 0.0%ClintonBush 43, month 1: −0.3%Bush 43, month 4: 0.6%Bush 43, month 7: 0.9%Bush 43, month 10: 1.8%Bush 43, month 13: 2.4%Bush 43, month 16: 0.9%Bush 43, month 19: −0.3%Bush 43, month 22: −1.2%Bush 43, month 25: −1.8%Bush 43, month 28: −0.3%Bush 43, month 31: 0.0%Bush 43, month 34: 0.3%Bush 43, month 37: 0.6%Bush 43, month 40: 0.9%Bush 43, month 43: −0.6%Bush 43, month 46: 0.0%Bush 43, month 48: 0.0%Bush 43Obama, month 1: 3.0%Obama, month 4: 3.0%Obama, month 7: 4.2%Obama, month 10: 1.2%Obama, month 13: −0.3%Obama, month 16: −0.9%Obama, month 19: −0.9%Obama, month 22: −0.9%Obama, month 25: −1.7%Obama, month 28: −1.8%Obama, month 31: −1.8%Obama, month 34: −1.8%Obama, month 37: −0.9%Obama, month 40: 0.3%Obama, month 43: −0.9%Obama, month 46: −0.6%Obama, month 48: −0.6%ObamaTrump I, month 1: 1.7%Trump I, month 4: 2.6%Trump I, month 7: 1.4%Trump I, month 10: −1.1%Trump I, month 13: −0.3%Trump I, month 16: −0.8%Trump I, month 19: 0.6%Trump I, month 22: 2.9%Trump I, month 25: 1.1%Trump I, month 28: 2.0%Trump I, month 31: 1.7%Trump I, month 34: 2.0%Trump I, month 37: 3.4%Trump I, month 40: 9.8%Trump I, month 43: 6.7%Trump I, month 46: 3.9%Trump I, month 48: 3.9%Trump IBiden, month 1: 1.6%Biden, month 4: −5.6%Biden, month 7: −4.4%Biden, month 10: −4.0%Biden, month 13: −2.7%Biden, month 16: −3.2%Biden, month 19: −1.4%Biden, month 22: 0.3%Biden, month 25: 0.3%Biden, month 28: 1.7%Biden, month 31: 1.1%Biden, month 34: 1.9%Biden, month 37: 0.3%Biden, month 40: 0.8%Biden, month 43: 1.4%Biden, month 46: 1.4%Biden, month 48: 1.4%BidenTrump II, month 1: 2.2%Trump II, month 4: 2.2%Trump II, month 7: 1.4%Trump II, month 13: 0.8%Trump II, month 16: 0.5%Trump II, month 19: −1.6%Trump II, month 21: −1.6%Trump II
Real Wages, months 1–48 of each term. Highlighted: Trump II.

All administrations at month 21

Real Wages at month 21 in office, 8 administrations ranked highest (best) to lowest. Average of all 8: −0.9%.
RankAdministrationValue at month 21Change since month 1Latest / end of month 48Primary federal source
#1Ronald Reagan0.7%+2.8 pts1.3% (month 48)Bureau of Labor Statistics · LES1252881600Q
#2Donald Trump (first term)0.6%−1.2 pts3.9% (month 48)Bureau of Labor Statistics · LES1252881600Q
#3George W. Bush−0.3%0.0 pts0.0% (month 48)Bureau of Labor Statistics · LES1252881600Q
#4Barack Obama−0.9%−3.9 pts−0.6% (month 48)Bureau of Labor Statistics · LES1252881600Q
#5Joe Biden−1.4%−3.0 pts1.4% (month 48)Bureau of Labor Statistics · LES1252881600Q
#6Bill Clinton−1.6%−1.6 pts0.0% (month 48)Bureau of Labor Statistics · LES1252881600Q
#7Donald Trump (second term) · in office−1.6%−3.8 pts−1.6% (month 21)Bureau of Labor Statistics · LES1252881600Q
#8George H. W. Bush−2.8%−1.0 pts−0.3% (month 48)Bureau of Labor Statistics · LES1252881600Q

Methodology and source verification

Year-over-year % change in median usual weekly earnings of full-time workers in constant dollars (BLS, quarterly).

Every administration is aligned to its own inauguration: month 1 is the month it took office, and the comparison runs to month 48 (the first term). Each administration is compared at the same month in office, so a president halfway through a term is never measured against another's full four years.

Primary source: Bureau of Labor Statistics (BLS). Retrieved from the Federal Reserve Bank of St. Louis (FRED), series LES1252881600Q, refreshed hourly. Latest observation 2026-07-01, first published 2026-10-21. Full methods: methodology.

More on Donald Trump (second term)

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