‘That raise meant nothing`: Inflation is wiping out pay increases for most Americans
(Washington Post Business)

After years of barely budging, wage growth is finally at its highest level in decades. A global pandemic, combined with swift government stimulus and unexpected labor shortages have put workers in the drivers` seat, giving them the kind of negotiating power they`d never imagined. But in an unexpected twist, the same strong economic recovery that is emboldening workers is also driving up inflation, leaving most Americans with less spending power than they had a year ago.