The Labor Department reported on Friday that average hourly earnings in the country rose by 5.6 percent in March, up from 5.1 percent in February.
But at the same time, inflation is at a near-record high. In fact, the inflation rate is the highest it has been in four decades, and prices of various goods and services are surging.
In other words, even though the American worker is better on paper, they are actually worse off today than they were a year ago.
Here's what Moody's Analytics chief economist Mark Zandi has to say about these issues.