According to fresh data from Indeed’s Hiring Lab, hourly wages went up 1.7% in the past year. And salaried wages went up 2.9%. Neither is keeping pace with inflation.
The danger is that inflation will overtake wage growth, which would mean Americans overall would have less money for discretionary spending.
Apple is the latest big employer to announce it’s hiking hourly pay. The market for in-person work is especially competitive.
The September wage numbers from the Labor Department are good news in particular for workers at restaurants, hotels and retail.
Many employers are already prepared for the rule change.
