Inflation may be the highest in decades, but wage gains have been impressive, too. While the average pay increase over the past year fell short of matching...
, a Dallas-based software services company that focuses on the labor market. “Even though wage growth has been big, not everyone is feeling it.”, according to a government report. That means most companies have been slow to ratchet up wages, he said, and many workers may not have pressed for a raise or looked at switching jobs.
Those earning over $60,000 had a windfall, ranging from $525 to nearly $2,000 for the highest earners. In a similar vein, rising prices eat up a higher share of family budgets for lower-income households. They spend more of their income on gasoline and food, whose prices have been climbing fast.
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