Increased Salaries Are No Match, for Skyrocketing Inflation.
CNBC reports wages have increased
for employees in the United States, .
but this year, modest gains for the labor force have been no match for inflation, which sits at its highest rate in over 40 years.
but this year, modest gains for the labor force have been no match for inflation, which sits at its highest rate in over 40 years.
Per the U.S. Bureau of Labor Statistics,
average hourly wages adjusted for
inflation fell .8% in February.
Per the U.S. Bureau of Labor Statistics,
average hourly wages adjusted for
inflation fell .8% in February.
Wages are up 5.1% over the past year, which is trailing
the pace of inflation, Mark Hamrick, economic analyst at Bankrate.com, via CNBC.
In the last year, the average price of
groceries has ballooned by 8.6%.
Per the U.S. Department of Labor,
this is the highest increase in
grocery prices since April 1981.
Per the U.S. Department of Labor,
this is the highest increase in
grocery prices since April 1981.
Overall energy costs, including fuel, experienced their highest rise since July 1981.
Experts say the inflated economy
of the United States is beginning to
take a toll on its citizens.
Experts say the inflated economy
of the United States is beginning to
take a toll on its citizens.
People do not buy food staples, gasoline or electricity because they love these things; they buy them because they need them. , Mark Hamrick, economic analyst at Bankrate.com, via CNBC.
People do not buy food staples, gasoline or electricity because they love these things; they buy them because they need them. , Mark Hamrick, economic analyst at Bankrate.com, via CNBC.
Per a report from LendingClub,
nearly 64% of citizens of the United States
are currently living paycheck to paycheck.