With rising prices, wages have actually declined over the year.
The Bureau of Labor Statistics released its quarterly employment cost index Friday. It showed wages are increasing but not keeping up with inflation.
Wages and salaries for workers rose 1.3% in the third quarter and over 5% in the year ending in September.When the numbers are adjusted for rising prices, wages and salaries have actually declined 3% over the year.Paying for wages and benefits cost employers over 1% more in the third quarter, not accounting for inflation.
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