2023 - ERB FINANCIAL

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Inflation Cuts into Wage Gains

Driven by labor shortages, median hourly wages increased at an annual rate of 5.2% in December 2021, the highest level since June 2001. However, inflation cuts into buying power, and real wages — adjusted for inflation — actually dropped as inflation spiked in 2021. By contrast, negative inflation (deflation) during the Great Recession sent real wages skyrocketing temporarily even as non-adjusted wage growth declined.

Sources: Federal Reserve Bank of Atlanta, 2022, and U.S. Bureau of Labor Statistics, 2022, data 1/2001 to 12/2021. (Wage growth is calculated by comparing the median percentage change in wages reported by individuals 12 months apart; real wage growth is calculated by subtracting CPI-U inflation from wage growth.)

 

Link to Printable PDF:      2022 03 March Newsletter

 

IMPORTANT DISCLOSURES

ERB FINANCIAL is an independent contractor who offers Investment Advisory Services & Securities through Excel Securities & Assoc., Inc. member FINRA, SIPC, 200 Canal View Blvd., Rochester NY 14623, 585-424-1234.

Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual’s personal circumstances.

To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.

These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

This communication is strictly intended for individuals residing in the state(s) of NY. No offers may be made or accepted from any resident outside the specific states referenced.

 

Prepared by Broadridge Advisor Solutions Copyright 2022.

Filed Under: Articles, Budget Spending Finance, Career, Economy, Inflation

Call: (585) 426-8190

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Copyright 2019 - ERB FINANCIAL is an independent contractor who offers Securities and Investment Advisory Services through Ashton Thomas Securities, LLC, member FINRA/SIPC, 200 Canal Park Blvd, Rochester, NY 14623, 585-424-1234 • Ashton Thomas Securities, LLC and Erb Financial are separate entities; There is no common ownership between the two. Ashton Thomas Securities, LLC is a Member of [FINRA] and [SIPC]
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