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In some sectors, like leisure and hospitality, workers have been quitting and changing jobs, allowing them move into higher-paid positions.
Wages are rising and benefits are getting better. Trouble is, inflation is outpacing pay.
Some economists in the survey don’t expect their firms to pay workers more in the future.
If wages were to rise as fast as prices right now, it could lead to a wage-price spiral, something the Fed is trying to prevent.
Some workers are seeing wage increases above the rate of inflation. But, overall, rising prices are outpacing rising wages.
The University of Michigan’s consumer sentiment index is at a 10-year low. But consumer demand and savings remain high.
University of Michigan data shows inflation is starting to bite more for consumers at the low end of the income spectrum.
Real average hourly pay increased 0.1% in December. Generally, wages are beating inflation, but some industries are lagging.
Some nursing homes say they can’t compete for workers, as fast-food places and other retailers have raised wages.
And new data shows that buying a place is more affordable than renting in some areas.