Americans may be earning more, but their money isn’t going as far.
A new Labor Department report shows wages rose just over three percent during the past year.
But after inflation, private-sector workers actually lost six-tenths of a percent in buying power.
Government workers saw a similar decline.
Bottom line? Paychecks are getting bigger, but rising prices are still eating away at those raises.
(Photo provided by Envato Elements)
(Photo provided by Envato Elements)