Wages Jump By Highest Rate In 20 Years
October 29, 2021 2:00PM CDT
While price inflation has been an issue throughout 2021, wages and salaries have also been increasing.
According to the Labor Department, wages went up by 1.5% over the last three months – the biggest quarterly jump on record, going back more than 20 years.
Employers have been forced to increase wages and other benefits to lure workers during a labor shortage. The data shows there are still more job openings than people looking for work.