evidence: The average American might not have much faith in the current U.S. economy, what with the cost-of-living increase over the past few years and persistent recession warning bells. But Americans have many reasons to feel confident—including that wage and salary growth are now outpacing inflation, according to myriad government data. From January 2021 to October 2023, national average wages and salaries grew by nearly $15,000, according to an analysis from Democrats on the U.S. Congress Joint Economic Committee (JEC) released Monday. That’s over $3,500 more than the increase in inflation during that same time period, the Democrats say. JEC’s thesis is backed up by other economic data, which also shows that wage growth is now outpacing inflation growth. Per the U.S. Census Bureau, wages and salaries increased by 4.6% for the 12-month period ending in September 2023 and by 5.1% for the 12-month period ending in September 2022. Meanwhile, the Consumer Price Index for All Urban Consumers, or CPI-U, increased 3.2% from July 2022 to July 2023.