heftiest pay raises in decadesWages for workers who stayed at their jobs were up 5.
5% in November from a year earlier, averaged over 12 months, according to the Federal Reserve Bank of Atlanta. That was up from 3.7% annual growth in January 2022 and the highest increase in 25 years of record-keeping.
Inflation is purely a monetary effect - raises are a reaction, not a cause. Is this the WSJ's Butterfield moment?
Great
This is misleading. Those who quit and switch jobs are seeing 2x the pay hikes, if you looking at the monthly jobs report… anyone who can quit for a pay hike elsewhere should seriously consider doing so!! Go out and see what is available!!
Modest gains by low- and middle-income workers are NOT 'fueling inflation.' Especially when these raises don't even keep pace with inflation. Look higher. Look where the real gains have been. Where the greed is. And stop pitting the little people against each other.
This is bizarro world. There is ONE cause of inflation: MONEY PRINTING. You would think the WSJ would know that?! smdh
Lol
They haven't raised any wages in decades... They still need to catch up.