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
Job Descriptions
Talent Acquisition
Emergency Response
Affirmative Action
Employee Conduct
Opening & Closing
Artificial Intelligence
Executive Compensation
Hiring
Employee Engagement
Workplace Culture
Raise
Disability Accomodations
Remote & Hybrid Work
Educational Assistance
Intellectual Property
Employment Offers
Hiring & Firing
Risk Management
Overtime Pay
Ethnicity
Records & Reports
Employment Law & Compliance
Whistleblowing
Eligibility Verification (I-9)
Onboarding
Workplace Harassment
Electronic Records Management
Global Mindset
Policies & Practices
Contracts & RFPs
Contemporary Issues
Discrimination
Employee Relations
Employee Handbooks
Health Care Benefits
Employee Resource Groups
Background Checks
Data Security
Sexual Orientation
Learning & Development
Inclusion, Equity &
Campus Placement
Work Life Integration
Health Savings Accounts
Social Media
Change Management
Disability Benefits
Business Continuity
Investigations
Tags
Article
Is It Time For Recruiters To Think Like Marketers?
About 46% of recruiters acknowledge this by seeing recruitment more as marketing than an expansion ...
How to Avoid Burnout in 2022
Whatever your work setting may be, it’s important to stay productive while you don’t burn out. Here ...
Don’t Fall Prey to These Job Scams
When people are looking frantically for employment, scammers get a chance to exploit their weakness ...
How Startups Can Ensure Success While Working With Freelancers
However, the scenario has changed drastically in the last ten years. According to a report by Forbe ...
Comments