Americans Suffer Pay Cut as Inflation Outpaces Wage Growth

Oct 19, 2022 / Felix Richter, Statista data journalist
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Social Security recipients will get a 8.7% COLA this January, but those still in the work force will not. Inflation has now been outpacing nominal wage growth for 18 months straight, meaning that Americans can afford less than they could a year ago, even with increased wages.

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