Worker pay isn’t keeping up with inflation

Posted on AllSides December 13th, 2021
From The Center

For all the hype that wage growth has received this year, pay isn’t keeping up with price growth. Real earnings, or wage growth less inflation, turned sharply negative the last two months, after eeking out gains over the summer, consumer price data out Friday show.

Why it matters: That’s an erosion of spending power, which is a bummer. But for time being, it takes the edge off worries of a wage-price spiral, which happens when higher wages fuel inflation, which fuels the need for even higher wages — and so on....

Read full story

Axios

AllSides Media Bias Rating: Center
AllSides Media Bias Rating: Center
106714/84322
See full bias rating for Axios
Learn about media bias
https://www.axios.com/wages-inflation-economic-data-c912afdb-b950-4183-8283-50afff593576.html

More News about Economy and Jobs from the Left, Center and Right

From the Left

From the Center

From the Right