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The Bureau of Labor Statistics quarterly report of Weekly Earnings for the US employee confirmed that wages elevated 5.7 p.c within the final yr, outpacing shopper inflation which is at 4% year-over-year. This can be a welcome change for staff who had seen their actual wages fall through the post-pandemic inflation spike.
“When job openings outnumber the accessible staff practically two to at least one, wages are going to naturally be pushed greater,” Crapuchettes added. “We’re in a historic employee scarcity as our economic system continues to regulate to the decline in inhabitants development. Meaning competitors for workers will proceed driving wage inflation at its personal tempo, no matter different components. It’s the fundamentals of provide and demand, and the tight labor market isn’t going to ease up anytime quickly.”
Learn extra right here. To schedule an interview with RedBalloon CEO Andrew Crapuchettes, contact Isaac Lopez at (208) 997–8013 or isaac@redballoon.work.
About RedBalloon
Based In 2021, RedBalloon has rapidly change into America’s largest connector of employers and staff who prioritize a constructive office tradition free from the divisiveness of cancel-culture mandates. RedBalloon CEO Andrew Crapuchettes is a longtime enterprise chief, entrepreneur, and innovator who has based a number of profitable tech corporations and is extensively thought of a world pioneer within the improvement and use of labor market information analytics – an business he helped discovered over 20 years in the past.
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