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Wages in the U.S. are up from one year ago

Data shows that wages this year are currently up from where they were last year.

payments from wages

This report comes from the United States Labor Department.

According to the Department, the employment cost index rose 5% in the third quarter compared to last year.

The employment cost index combines pay and benefits for workers in the U.S.

Finger Lakes Partners (Billboard)

Why have wages gone up?

According to Local Syracuse, companies are doing all they can to attract and then keep new workers.

Many attractions entail higher wages, pay increases, or bonuses for starting to work there.

While this is good news, in a lot of ways the high rates of inflation almost cancel it out.

Workers may not even notice the pay increase as prices around them continue to rise to unaffordable levels.


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