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Why Salaries In The U.S. Don’t Keep Up With Inflation

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Inflation in the United States hit a record high in June 2022. Consumer prices soared by 9.1% compared to a year prior - the largest annual increase since 1981. While wages are rising, they’re not keeping up with inflation. Corporations are raising salaries and offering other perks to retain employees, but they’re not necessarily factoring in cost of living, as that’s not typically how compensation determination works. Instead, organizations focus on the cost of labor and the competitive landscape in making these decisions.

Chapters:
0:00 Introduction
1:30 How inflation works
2:58 How salaries work
5:42 Reality
8:08 Affected Americans

Produced by: Emily Lorsch
Edited by: Nic Golden Henry
Senior Managing Producer: Tala Hadavi
Graphics by: Jason Reginato, Christina Locopo, Alex Wood
Additional Camera: Jordan Smith

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Why Salaries In The U.S. Don’t Keep Up With Inflation
Category
Tech
Tags
CNBC, CNBC original, business
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