Inflation hits retirees in the US

Aug 20, 2021
218 views
0 comments
Share
Business Acumen

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.

218 views
0 comments

Tags In

UK India

Previous days news

Aug 19 Aug 18 Aug 17 Dec 31 Dec 30

Best tech jobs in the United States : BLS data

Sep 06, 2022
472 views
0 comments
Background Checks

For several reasons, the IT sector is appealing to job seekers. ...Read more

Salaries for Californian fast food employees might rise to $22 per hour

Sep 06, 2022
448 views
0 comments
Background Checks

Despite the opposition of restaurant owners who worried it would raise customers' bills, California Governor Gavin Newsom on Monday signed a nation-leading law providing more than 500,000 fast food employees additional authority and rights. ...Read more

Workers leave as job dissatisfaction grows

Aug 17, 2022
505 views
0 comments
Background Checks

Demands for improved pay and workplace environments are coming from workers in California to New York. ...Read more

Microsoft offers graduates from African nations job prospects in the US & Canada

Aug 17, 2022
421 views
0 comments
Background Checks

New graduates from institutions in Nigeria and other African nations have been made aware of job prospects by Microsoft. ...Read more

Casper is hiring professional sleepers

Aug 10, 2022
478 views
0 comments
Background Checks

A mattress company is searching for a role where napping while working is not only acceptable but also required. 'Casper Sleepers' are being hired by Casper, a New York-based business established in 2014. ...Read more

Inflation hits retirees in the US

Inflation hits retirees in the US

Tags In

Others news

Category

Tags

Articles