Reply to U.S. Annual Inflation rose to 6.8% in November

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Reply to "U.S. Annual Inflation rose to 6.8% in November - the highest in 40 years"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Now that the average American is starting to see wage growth, you complain about inflation. We cannot have a permanent underclass for service jobs. The conservative still want wage slaves.[/quote]

Inflation is not an easy beast to play with like that.  Most already employed workers will only see 2% - 3% pay increases this year as employers try to hold the line.  Even for the lower end workers re-entering to big percentage pay increases - they are facing runaway rental and housing inflation which is making it difficult to get on the first rungs of the housing ladder.[/quote]

Exactly. Forget about Amazon's signing bonus for delivery drivers. Most working people are going to get 2-3% increases. I got a 3% increase for 2021 but inflation hitting 7% means my income effectively declined. And the company is planning another 2-3% increase for '22 but if we have another 7-8 or even higher % inflation in '22, that represents two years of notable buying power declines compared to where we were in 2019. And this is most employers. The Fed is also only giving its employees a 2.5% annual increase for 2022, which will largely set the pattern for most employers.

Inflation is a vicious cycle that is always very difficult to bring under control without serious pain. [/quote]

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