Ever since 2022, when inflation hit a 40-year high of 9%, Americans have been pissed off about the economy.
Traditionally, economists (being economists) have focused on the economic costs of inflation — i.e., are price increases wiping out everyone's annual raise?
In a normal economy, the small raises companies give are enough to offset the minimal inflation we typically see.
In a survey of 3,000 workers, researchers found that most — a whopping 79% — just accepted the salary they were offered.
AdvertisementBut now, poring over the new study, I realize I overlooked the role inflation has played in reshaping the pandemic-era workplace.
Persons:
Donald Trump, didn't, —, I've, Will, we're, Aki Ito
Organizations:
Pew Research Center, National Bureau of Economic Research, Business
Locations:
American