Inflation hits retirees in the US
Rising inflation and low interest rates hit retirees especially those on low to moderate incomes. For most senior citizens, their income sources add up to personal savings and a monthly Social Security check. While the Social Security Check rose by $20, the cost of living calculated by the Social Security Administration was based on the inflation rates of 2019-2020. This calculation did not take into account the pandemic-induced inflation that rose this year.
Mary Johnson, policy analyst at The Senior Citizens League found out that 86% of retirees said their monthly expenses rose by $20 this year while 40% of them said it rose by more than $100.
Source: CNN.
Category
Onboarding
Cybersecurity
Employee Surveys
Relationship Management
Educational Assistance
Contracts & RFPs
Pay Equity
Discrimination
Fiduciary Duty
Disability Benefits
Employee Conduct
Downsizing
Communication
Sexualy Harassment
Executive Compensation
Wellness Benefits
Substance Abuse
Labor Relations
Employment Branding
Opening
Contemporary Issues
Privacy
Employment Offers
Work Visas
Ethnicity
Employee Resource Groups
Firing
Benefits
People Management
Retirement Benefits
Employee Data Privacy
Vendors & Software
Employment Contracts
Job Descriptions
Teamwork
Background Checks
Sexual Orientation
Affirmative Action
Inclusion, Equity &
Retention
Whistleblowing
Succession Planning
Raise
Termination
Networking
Hiring & Firing
Employment Testing
Overtime Pay
Learning & Development
Business Continuity
Tags
Article
Tips for Staffing Agencies to Create a Competitive Advantage
Today, it is a $174 Billion industry and one of the leading B2B businesses in the US. Whenever HR p ...
The Unionization Wave
From the peak of the pandemic in 2020 through the Great Resignation wave, unionization has been a ...
Why Work With Staffing Agencies To Hire Your Temporary Workers
Recruitment is getting more challenging day by day. Layers of complexities have emerged with the pa ...
You Think You Have Earned It? Here is How to Ask for a Promotion
Nearly 62% of employees in the managerial levels are satisfied with their jobs. Although they have ...
Comments