Most workers are seeing more and more on their paychecks, but with inflation so high does it really feel like you are getting paid more?
“It doesn’t feel like it right now because of things like gasoline prices and things like that that have gone up really fast this year and wages certainly have not quite kept up with that,” UNO economist Dr. Walter Lane told WWL’s Tommy Tucker.
Wages were up 5% year to year in February, but Inflation jumped even faster at 7.5% during the same period, wiping out gains and then some. Lane said that unless you were in the lower-income brackets you may not even have received much of a raise.
“What’s happened with the labor market has raised the lowest average wage, it has been going up definitely in the last year,” said Lane.
Supply chain issues and ballooning corporate profits are part of the inflation equation, but so are those rising wages.
“Where there are labor shortages and employers keep raising wages to try to hire workers that will of course feed over into the price of their goods and cause inflation,” said Lane.
