Paychecks Increase for Americans, , but It's Still No Match for Inflation.
Paychecks Increase for Americans, , but It's Still No Match for Inflation.
CNN reports paychecks for the citizens of the United States rose last year, but so did the average price of goods.
CNN reports paychecks for the citizens of the United States rose last year, but so did the average price of goods.
Between December 2020 and December 2021, compensation for America's labor force rose 4%.
.
Per the Bureau of Labor Statistics, this pay increase is the largest since the fourth quarter of 2001.
Workers in the private sector fared slightly better, as their paychecks increased by 4.4%.
Workers in the private sector fared slightly better, as their paychecks increased by 4.4%.
According to CNN, when adjusting current pay rates for continued pandemic-era inflation, salaries fell by 1.9% year-over-year.
Despite the labor market recovery and the strong stock market, average Americans aren't optimistic about the current state of the U.S. economy.
Three-quarters of the country say they are concerned with the state of the economy in their communities.
According to a recent poll conducted by CNN, 63% of Americans believe the state of the economy is a cause for concern.
Eight out of 10 Americans say the inflated cost of groceries indicates a problem for the nation's economy.
Seven out of 10 believe the nation's surging gas prices also point to an economy in peril.
Merely 30% of Americans believe the policies of the Biden Administration have had a positive impact on the economy of the United States