Inflation Is Still Beating Our Paystubs- Here’s What To Do About It

As interest rates and inflation exert increased pressure on consumers’ finances, our American Staffing Association-Harris Poll in Newsweek and Staffing Industry Analysts shows many employees feel their paychecks are still lagging behind inflation.

• Nearly two in five (38%) Americans even said their overall financial situation is more stressful than 12 months ago when most Americans said inflation is causing them to save less for unexpected expenses.
• More than half (53%) of US workers feel their paychecks are not keeping up with the pace of inflation rather than keeping up (47%).
• Younger employees react with raise requests: Two-thirds of Gen Z and Millennials intend to request a raise in 2024 (66%, 67% v. Gen X: 51%, Boomers: 42%).

“The data may project a soft landing for the economy, but the bank accounts of America’s workers are telling a different story,” said Richard Wahlquist, CEO of the American Staffing Association.

“With the price of a pound of ground beef increasing by 29% over just four years and personal savings rates at their lowest levels in 15 years, US workers are understandably stressed about the adequacy of their paychecks and their ability to save for their future.”

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