If you're making minimum wage, inflation means your dollar is the weakest it's been in more than a decade

and other incentives to attract workers. And quits soared to a record high in April, suggesting Americans are confident in their chances at finding a better job.

But that encouraging trend is reversed — and then some — by booming inflation seen through reopening. Price growth has accelerated toas a wave of pent-up demand runs up against widespread shortages and production bottlenecks. After accounting for the broad upswing in consumer prices, the minimum wage is the weakest it's been since 2008.

The rate of decline has also accelerated through spring, suggesting the real minimum wage could soon breach multi-decade lows. To be sure, economists largely expect inflation to cool as the country settles into a new normal and bottlenecks are resolved. President Joe Biden backed the outlook again on Thursday, saying he expects price growth to"pop up a little bit and then come back down."

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The Big irony of the unemployment benefits is it massively inflated the dollar cutting the value of minimum wage earners by like 10-20% by this point

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