Pay Raises Are Finally Beating Inflation After Two Years of Falling Behind
Pay Raises Are Finally Beating Inflation After Two Years of Falling Behind
If the trend persists, it gives Americans leeway to propel the economy through increased spending, which could help the U.S. skirt a recession.
Wages rise more than 4% while consumer prices increase 3%
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I have never received an inflation beating raise, not once in my life, and I'm 50 years old. The only way to get good raises is to job hop. And anyway, 3%CPI? Have they done any food shopping in the past year?
In my 40's and pretty similar experience. Raises are always 3-5%, with several years where they didn't even meet that. Hell, I remember one year having manager take me out to lunch and explain to me that the company wasn't doing any raises that year. The following year I had a new job at ~20% higher salary. And companies wonder why workers have no loyalty anymore. In the end, the only thing that has kept my salary rising faster than inflation is to job hop every 3-5 years. I'd rather not. Hell, I like the company I'm at now and they talk a fantastic game about building a long term career. We'll see how that pans out come raise time.
I take any long-term pipe dreams with a grain of salt nowadays. I spent 3 years "just six more months" at a time because I believed the owner of the company. Never again.
They exclude food, fuel and some other things from CPI. The government made this change about a year ago. It's wrong and most of us know it.
This is easily verified to be false.
This is disinformation.
https://www.bls.gov/cpi/additional-resources/historical-changes.htm
There have been very few changes, and none in the last few years. And when they made changes last they were small changes that only make the score more accurate:
Changes to the CPI establishment frame (2019-2020)
•Replaced Telephone Point-of-Purchase Survey (TPOPS) as source of retail establishment frame with data from the Consumer Expenditure Surveys (CE)
•Eliminated redundancies and inefficiencies in survey operations and reduced household burden Use of Quarterly Census of Employment and Wages business registry to refine the location and address data from the CE
• Use of Quarterly Census of Employment and Wages business registry to refine the location and address data from the CE
“It’s wrong and most of use know it.” I don’t think most of anyone knows it. And the ones who do are misinformed, repeating false internet narratives without doing any sort of fact checking.
There’s been 13 revisions in over 100 years.
Look another one stating how the government keeps changing the formula to make CPI go down.
https://www.forbes.com/sites/qai/2023/01/23/supercore-inflation-excludes-food-energy-and-housing/
Yea, but keep lying to the people.
You are confusing yourself. That article sites the BLS website to explain the differences between core and super core indexes. Both are publicly available, and neither are new. The formula for either number hasn’t changed significantly in decades (1983 when housing price weight was changed).
Bullshit, why do you ppl lie for the government. Are you getting paid to gaslight ppl all over the world.
https://www.nytimes.com/2022/05/24/technology/inflation-measure-cpi-accuracy.html
You obviously didn’t read your own article. It dismantles the argument that the calculation is vastly changed, and acknowledges a change in how housing prices are weighted in 1983 might change the equation by 1 point for some people looking to buy a home. Not in the “last two years,” as stated by the comment above.
And your article literally cites data from the BLS website so I guess you’re shilling for the government?
Another article.
https://thehill.com/business/3856258-cpi-calculation-to-be-revised-for-january-price-data/
I really wish you ppl would stop the gaslighting. This is why things are getting worse.
Owners’ equivalent rent of residences (OER) has nothing to do with the headline CPI numbers. The article you’re referring to literally cites the BLS website, and talks about a separate number not covered by any headlines or indexes in this post.
Nice try.
Saw a store selling a gallon of milk for $7. Was an “upscale” grocery store, but come on. Half a load of bread from the bakery was $8. Where is the other half of my bread?! I walked out
Yeah. While I do feel like the impacts of inflation are slowly slightly (maximum price gouging achieved), 3% CPI has to be some wildly-creative math.