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Despite higher wages, inflation gave the average worker a 2.4% pay cut last year

m.knox

Well-Known Member
Gold Member
Aug 20, 2003
122,769
82,208
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Poor Filthy Frank......... His talking point of higher wages just got shit on..........

https://www.cnbc.com/2022/01/12/higher-pay-eclipses-inflation-bite-for-some-.html

  • Inflation grew 7% in December from a year earlier, the U.S. Department of Labor said Wednesday. Average hourly wages also increased by 4.7%.
  • That amounts to a pay cut of more than 2%, on average.
  • However, the experience for workers will differ widely based on their job and what they buy.
 
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