Wage inequality fell over the last two and half years. And compared to early 2020, real wages are still higher for the bottom 40% of the workforce (accounting for demographic composition), in spite of high inflation rate over the past year and half.
This is an update from past evidence through June 2022.
BTW, accounting for regionally different price inflation does not materially affect this conclusion about wage compression and rise in real wages at the bottom.
Correction: y-axis title should say "Cumulative" and not "Annualized"
@arindube You can even edit that, I believe :)