A significant decline in purchasing power has occurred, with families experiencing a substantial loss. This loss amounts to a notable decrease in average annual income.

The trend of falling real wages began several years ago, but other forms of income initially offset this decline. However, this is no longer the case, leading to a decrease in overall purchasing power.

Further information on this development is available, providing insight into the impact of falling real wages and the change in other forms of income on purchasing power over time.