Wages Jump By Highest Rate In 20 Years

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.