Inflation Takes Toll: 60% of Americans Report Their Income Does Not Keep Up With Rising Prices in a Cooling Job Market
Despite a cooling job market and Federal Reserve’s actions to curb economic growth, American workers are holding onto their bargaining power, with 64 percent experiencing pay increases in the 12 months after October 2022, according to a Bankrate survey. However, inflation is eroding their gains, affecting a majority of workers and highlighting income disparities among different demographic groups.
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