tag: Economy News

Americans’ purchasing power will erode further, the report says

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Inflation worries have grown in recent months as stimulus payments from the federal government boosted consumers' ability to spend more than they had since well before the COVID-19-fueled recession. This was compounded by the difficulty low-wage industries had in attracting workers, which led them to raise the wages of hundreds of thousands of workers.

If you’ve found it increasingly difficult to make ends meet over the past five years, it’s likely to get worse, according to a new study. Over the past five years, 97% of occupation wages have failed to keep up with inflation, said personal finance platform Moneywise, which analyzed data from the Bureau of Labor Statistics … Read more