39.27 F
February 28, 2024
Image default

Job Switchers Are Saying ‘Show Us the Money.’ They’re Getting It.

Published by
The Street

By Dan Weil Many workers, particularly job switchers, are seeking and getting pay raises. But lower-paid workers have a lot of ground to make up. One element of inflation that is particularly worrisome to economists is wage inflation. When wages rise, businesses feel freer to raise their own prices. Then workers demand still higher wages to afford the higher prices. And then businesses are tempted to raise their prices further. So consumers end up with an inflationary spiral. Average hourly earnings soared 5.6% in the 12 months through March. Workers switching jobs are particularly benefiting….

Read More

Related posts

Inflation-fighting Fed expected to signal March interest rate hike


Facebook bans ads for cryptocurrencies


Twitter to accept Elon Musk’s takeover bid


Facebook to be called Meta in nod to its ‘metaverse’ vision


EV truck manufacturer Rivian raises nearly $12 billion in massive IPO


U.S. oil dips below $100 a barrel on economic worries, strong dollar


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.