Seeing a lot of otherwise smart people sharing this graphic. But it is affected by compositional effects in 2020!
Real wages (adjusted for inflation) grew at similar rates under both Administrations.
We had disproportionate layoffs among low-wage workers when the pandemic hit. This caused a spurious rise in wages in 2020 that was just due to this change in who was employed.
Not saying pandemic inflation wasn't a big part of the 2024 election story. It definitely was! But it wasn't for these reasons. This is bad use of data!