This does seem to be adjusting for inflation; according to one of the sources they cited:
From 1979 to 2020, net productivity rose 61.8%, while the hourly pay of typical workers grew far slower—increasing only 17.5% over four decades (after adjusting for inflation).
That said I think there’s some problems with how inflation is calculated, and the implications of the distribution of total ownership of wealth isn’t really mitigated by increasing affordability of consumer goods.
Pay raise means jack all for ordinary people. Our buying power went down a lot more than 24%.
This does seem to be adjusting for inflation; according to one of the sources they cited:
That said I think there’s some problems with how inflation is calculated, and the implications of the distribution of total ownership of wealth isn’t really mitigated by increasing affordability of consumer goods.