Article by:
Jeanne Sahadi
Big pay raises expected for 2023. But here's why that extra income may not make a difference
So for workers who get a salary increase next year of 4.1% or less, they will effectively see their pay cut because their purchasing power will be reduced. (Conversely, in recent years when inflation was below 3%, workers enjoyed higher purchasing power if their raises topped 3%.)Read More
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