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
Employment Testing
Time Worked
Workplace Wellness
Sexual Orientation
Background Checks
Open Enrollment
Cybersecurity
Executive Compensation
Termination
Organizational &
Health Savings Accounts
Talent Acquisition
Organization & Employee Development
Recruiting
Contracts & RFPs
Bonuses & Incentives
Retirement & Recognitions
Social Media
HR Software
Workplace Security
Unemployment Benefits
Wellness Benefits
Organizational Structure
Sexualy Harassment
Learning & Development
Employee Conduct
Drug & Alcohol Testing
Employment Branding
Employment Law & Compliance
Consultation
Pay Equity
Disability Benefits
HR Careers
Family & Medical Leave
Inclusion, Equity &
Promotion
Communication
Data Security
Workplace Culture
Employee Data Privacy
Contemporary Issues
Privacy
Inclusion, Equity & Diversity
Employee Engagement
Leave Management
Business Continuity
Mental Wellness
Work Life Integration
Fiduciary Duty
Ethical Practice
Tags
Article
How you can pay off student debt while you work
Student loan debt is a crisis that has been making its way through The United States for quite some ...
7 Signs That Tell You It’s Time to Quit Your Current Job
Last year, about 4,478,000 workers, which is approximately 3% of the workforce in the US (besides t ...
Financial steps to consider before quitting your job
Americans live paycheck to paycheck, making it difficult to leave their current employer. All thing ...
Effective Ways to Stay Productive While Telecommuting
Remote working is not a new thing in the US but a lifesaver in the current situation when social di ...
Comments