From BusinessInsider.com November 13, 2022
Americans keep waiting for inflation to return to normal levels. But that wait has taken longer than expected, and it could be among the reasons wages have fallen well behind inflation over the past year.
Many Americans expected inflation to cool sooner and quicker than it has.
That miscalculation is one of the factors working against them during salary negotiations.
The Consumer Price Index rose 7.7% in October versus a year earlier, the Bureau of Labor Statistics announced Thursday morning. That's a big slowdown from previous months, but it still marks faster price growth than Americans had seen for decades before the coronavirus pandemic...
Workers have finally had the power to demand higher wages.
Among the key reasons workers have seen their pay rise at all is the ongoing labor shortage. Despite the Federal Reserve's efforts to cool the economy, the unemployment rate remains near a 50-year low, and there are still well over 10 million job openings. Employers in need of workers are generally willing to pay more...
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Salary Negotiations: If People Expect Inflation to Slow, Raises Stay Low (businessinsider.com)â€‹