The algebraic counterpart of the Wagner hierarchy consists of a well-founded and decidable classification of finite pointed ω-semigroups of width 2 and height ωω. This paper completes the description of this algebraic hierarchy. We first give a purely algebraic decidability procedure of this partial ordering by introducing a graph representation of finite pointed ω-semigroups allowing to compute their precise Wagner degrees. The Wagner degree of any ω-rational language can therefore be computed directly on its syntactic image. We then show how to build a finite pointed ω-semigroup of any given Wagner degree. We finally describe the algebraic invariants characterizing every degree of this hierarchy.