Wiped Out
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wrote on 11 Aug 2021, 23:13 last edited by
https://www.cnn.com/2021/08/10/business/raises-inflation-wages/index.html
Companies big and small are raising wages to attract workers and hold onto employees as the economy revs back into gear.
But those fatter paychecks aren't going as far, thanks to rising inflation.
In fact, compensation is now lower than it was in December 2019, when adjusted for inflation, according to an analysis by Jason Furman, an economics professor at Harvard University.
The Employment Cost Index — which measures wages and salaries, along with health, retirement and other benefits — fell in the last quarter and is 2% below its pre-pandemic trend, when taking inflation into account. (Wages and salaries are growing at a faster pace than benefits.)
"The hot economy is heating prices more than it is heating wages," said Furman. -
https://www.cnn.com/2021/08/10/business/raises-inflation-wages/index.html
Companies big and small are raising wages to attract workers and hold onto employees as the economy revs back into gear.
But those fatter paychecks aren't going as far, thanks to rising inflation.
In fact, compensation is now lower than it was in December 2019, when adjusted for inflation, according to an analysis by Jason Furman, an economics professor at Harvard University.
The Employment Cost Index — which measures wages and salaries, along with health, retirement and other benefits — fell in the last quarter and is 2% below its pre-pandemic trend, when taking inflation into account. (Wages and salaries are growing at a faster pace than benefits.)
"The hot economy is heating prices more than it is heating wages," said Furman.wrote on 11 Aug 2021, 23:26 last edited byhttps://www.cnn.com/2021/08/10/business/raises-inflation-wages/index.html
Companies big and small are raising wages to attract workers and hold onto employees as the economy revs back into gear.
But those fatter paychecks aren't going as far, thanks to rising inflation.
In fact, compensation is now lower than it was in December 2019, when adjusted for inflation, according to an analysis by Jason Furman, an economics professor at Harvard University.
The Employment Cost Index — which measures wages and salaries, along with health, retirement and other benefits — fell in the last quarter and is 2% below its pre-pandemic trend, when taking inflation into account. (Wages and salaries are growing at a faster pace than benefits.)
"The hot economy is heating prices more than it is heating wages," said Furman.@Axtremus Woohoo ! $15 per hour FTW!
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wrote on 12 Aug 2021, 00:09 last edited by
Trump bucks > Biden bucks.
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wrote on 12 Aug 2021, 00:10 last edited by
Political bloodbath in 2022.