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Are you falling farther behind?
Here are my "numbers that don't add up" for today:
Average pay increase expected this year: 3.8 percent, according to the compensation experts at Mercer.
Current inflation rate nationwide: 5.6 percent. And the local rate's likely to be higher.
Where does that leave you? Falling farther behind.
But it's not expected that workers will complain, because jobs are harder and harder to find.
In late July, more than 215,000 Floridians were filing for or receiving unemployment compensation. Florida has lost more jobs than any other state in the last 12 months, even the depressed auto industry's home state of Michigan.
Is Florida getting hit harder than the rest of the nation? I can't quite prove it in numbers, but it feels like it. Doesn't it?
Harriet Johnson Brackey, the personal finance writer for the Sun-Sentinel, has been an award-winning business...
Comments
Places are talking about pay CUTS, while their employees have higher costs.
Of course, those pay cuts will not occur at the executive level....
Posted by: pay cuts next? | August 18, 2008 11:18 AM
It is happening...slowly but surely...the value of our hard earned dollars are eroding...even small business owners are feeling it...the truth is simple: our country's economy has been in "stealth" decline for years due to all of the capital flowing out of our borders every day. Now that credit is no longer available, spending will slow more sharply and only spike at times of need-- holidays and back to school. Just like the summer "moving" season between school years has given realtors a small enough boast for them to scream "recovery" or "bottom" but the truth is simple...this slide has been coming only slowly and sneakily for years and now with credit evaporating and people's credit tapped out...the real economy will now stand up-- and it will spook investors senseless.
Posted by: Reuben | August 19, 2008 7:25 AM