Commentary This week marks the two-year anniversary of declining real wages for ordinary American workers due to ongoing high inflation. The latest Consumer Price Index (CPI), released this week, shows prices grew 20 percent faster than wages over the last 12 months. This sad anniversary is the result of President Biden and Congressional Democrats’ reckless spending that has diluted the value…
NY Legislators Pass Bill Increasing Pay to Highest in Country As Real Wages Fall For Everyday New Yorkers
December 25, 2022
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Legislators in New York voted on Thursday to increase their pay by $32,000 at a time when the state’s citizens are suffering from stagnant wages and decades-high inflation, making the lawmakers the highest-paid among peers across the United States. The pay raise will push up the yearly salary for lawmakers from the current $110,000 to…
Salary Expectations in US Hit New High: Fed Survey
December 23, 2022
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Business & MarketsCompaniesearnings growtheconomic policieseconomyinflationreal earningsreal wagessalary expectationsUSUS Newswelfare benefits
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Expectations regarding salaries among American workers hit a record high in November, with younger people expecting the most, according to a Fed survey. “The average reservation wage—the lowest wage respondents would be willing to accept for a new job—increased from $72,873 in July to $73,667 in November, the highest reading of the series. The increase…
Biggest Wage Hikes in 16 Years Expected Next Year Amid Inflation
November 18, 2022
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Business & Marketseconomyhigh inflationinflationreal wagessalary hiketight labor marketU.S. labor marketUSUS Newswage increase
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Employees in the United States are expected to see a 16-year high salary hike next year as companies react to a tight labor market and inflation, according to a recent report by workplace consultant Willis Towers Watson (WTW). Pay budgets at companies have risen by 4.2 percent in 2022, stated a WTW press release on Nov. 17….
Inflation Outpacing US Wages Creating Worst Pay Drop in 25 Years
Residents in the United States have less to celebrate on payday as inflation-adjusted wages endure the harshest pay cut in a quarter century, according to the Federal Reserve Bank of Dallas. The bank’s report revealed the median decline in real wages was a little more than 8.5 percent for most of the U.S. workforce in the…
More Americans Are Living Paycheck to Paycheck Amid High Inflation
October 25, 2022
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As inflation continues to remain elevated, Americans are struggling to make ends meet and finding that there isn’t much leftover after making monthly payments, according to a recent survey by LendingClub. As of September 2022, 63 percent of U.S. citizens were living paycheck to paycheck, up 5 percent from 57 percent in September 2021. Last…
‘Recession and a Pay Cut’: GOP Blasts Slowing Job Growth, Sub-Zero Real Wages Under Biden
The GOP and the Republican National Committee (RNC) have sharply criticized the Biden administration for the drop in American workers’ real wages and the lackluster job creation numbers revealed in Friday’s closely-watched non-farm payrolls report, which showed September’s job growth to be the slowest all year. Labor Department data released on Oct. 7 showed that…
‘Recession and a Pay Cut’: RNC Blasts Slowing Job Growth, Sub-Zero Real Wages Under Biden
The GOP and the Republican National Committee (RNC) have sharply criticized the Biden administration for the drop in American workers’ real wages and the lackluster job creation numbers revealed in Friday’s closely-watched non-farm payrolls report, which showed September’s job growth to be the slowest all year. Labor Department data released on Oct. 7 showed that…
Inflation Is Eroding American Workers’ Wages: Federal Reserve
October 7, 2022
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Business & Marketsdisposable incomeeconomyFederal Reserve Bank of Dallashigh inflationinflationpersonal financereal wagesrecessionUSUS Newswage growth
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Most workers in the United States have seen their wages fall behind inflation in the past year, according to a recent report by the Federal Reserve Bank of Dallas. The Fed calculates that 53.4 percent of the American workforce saw their real wages decline between the second quarter of 2021 and second quarter of 2022,…
Fed Admits It’s ‘Not a Good Time to Be a Worker’ as Inflation Gobbles up 9 Percent of Wages
A senior Federal Reserve official has acknowledged the pain American workers are feeling from soaring inflation as all the wage gains of the average employee over the past two years have not only been completely erased but have fallen deep into negative territory. San Francisco Federal Reserve chief Mary Daly shared a stark statistic on…
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