Have Paychecks Kept Up With the Cost of Living?

Published On Oct 28, 2024, 11:31 AM

The article discusses the complexity of understanding whether American wages have kept up with inflation over recent years. Although economic data suggests that wages, on average, have risen faster than inflation since the pandemic, many Americans feel differently. Polls indicate that a significant portion of the population believes their financial situation has worsened due to inflation. Factors such as housing, job changes, and personal expenses contribute to individual experiences of wage growth. Ultimately, while many workers might be earning more in real terms, the overall perception is that inflation has outpaced personal wage growth for many, leading to a widespread feeling of falling behind.