As inflation continues to rise, federal officials foresee three interest rates rising for the year 2022.
Nov. saw a new high of a 6.8% inflation rate.
The good news is though, that experts seems to think the 2022 inflation rate may drop to 2.6%.
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A combination of things caused such rapid inflation this year, starting with COVID-19 and the pandemic.
This caused labor and supply shortages, effectively causing the prices of everything from groceries to heating your home to increase rapidly.
In the last ten years, inflation floated between 1% and 2%, with pay raises only ever rising up to 3%.
Many employees are urged to consider finding a new job that may benefit them more at a time when it’s the easiest to do so.
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Many companies have started hiring at much higher wages and offering better benefits to new and current employees.
Experts believe wages are likely to increase next year due to inflation.
Experts feel that employees would have the easiest time in the current economy to switch to better paying jobs with stronger benefits.
It’s a good idea to take advantage while it lasts.
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