Only 17% US workers say their pay has risen with inflation
Wages are rising at a fast pace for American workers, but prices are rising even faster. According to a survey conducted by Momentive for The New York Times, only 17% of workers said that they have received raises that kept up with inflation over the last year. Most of the rest say that they received wages that lagged price increases or that they have received no raise at all. 8% of survey respondents said that they had taken a pay cut.
Around 9 in 10 Americans said that they are at least "somewhat concerned" about inflation and 6 in 10 are very concerned. This worry about inflation crosses generational, racial and even partisan lines: 95 percent of Republicans, 88 percent of independents and 82 percent of Democrats say they are concerned. Government data meanwhile shows that wage gains are outpacing inflation, especially in the service sector, where the competition for workers has driven rapid increases in pay.
But in the aggregate, prices have risen faster than the pay in recent months. In November, the Consumer Price Index rose to a four-decade high of 6.8% while average hourly earnings rose 4.8%. Other measures also likewise show pay gains lagging price increases.
Source: The New York Times
Around 9 in 10 Americans said that they are at least "somewhat concerned" about inflation and 6 in 10 are very concerned. This worry about inflation crosses generational, racial and even partisan lines: 95 percent of Republicans, 88 percent of independents and 82 percent of Democrats say they are concerned. Government data meanwhile shows that wage gains are outpacing inflation, especially in the service sector, where the competition for workers has driven rapid increases in pay.
But in the aggregate, prices have risen faster than the pay in recent months. In November, the Consumer Price Index rose to a four-decade high of 6.8% while average hourly earnings rose 4.8%. Other measures also likewise show pay gains lagging price increases.
Source: The New York Times
Category
Privacy
Career Development
Religious Accomodations
Parental Leave
Contracts & RFPs
Whistleblowing
Benefits Reporting & Disclosure
Employee Conduct
Recruiting
Inclusion, Equity & Diversity
Analytical Aptitude
Leadership &
Benefits
Communication
Employment Contracts
Employee Surveys
Employee Resource Groups
Employment Branding
Networking
Technology
Bonuses & Incentives
Retirement & Recognitions
Unemployment Benefits
Contemporary Issues
Educational Assistance
Discrimination
Promotion
Hiring & Firing
Organizational Structure
Employee Engagement
Onboarding
Family & Medical Leave
Salary Surveys
Fiduciary Duty
Opening & Closing
Time Worked
Remote & Hybrid Work
Opening
Risk Management
Investigations
HR Software
Workplace Wellness
Flexible Spending Account
Affirmative Action
Drug & Alcohol Testing
Overtime Pay
Workforce Planning
Sexualy Harassment
Organization & Employee Development
Policies & Practices
Tags
Article
This Thanksgiving - Give Thanks To All These People
This Thanksgiving is going to be different, no doubt! But it need not be different in a negative se ...
Top paying Careers in 2021
The economy may be taking its time with recovery, but hiring and job hunting are at an all-time hig ...
Millennials Care About These 8 Things at Their Workplace - Are Your Offering Those?
Millennials are considered to be social people, who live by the ‘work hard play hard’ mantra and ar ...
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 ...
Comments