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Category: Inflation (1)

May 15, 2008

Our paychecks could use a little inflation

The numbers tell this one:

In the last five years, there was only one time that wages in in all three South Florida counties beat inflation, according to figures from the Bureau of Labor Statistics.

In 2007, South Florida’s inflation rate was 5.8 percent. Median hourly wages, on the other hand went up 3.2 percent in Broward county, 4.6 percent in Palm Beach county and 4.2 percent in Miami-Dade county.

In 2006, inflation, up 4.1 percent. Wages, up 3 percent in Broward, 3.6 percent in Palm Beach, 5.6 percent in Miami-Dade. That was the one-county exception to the trend.

In 2005, Inflation, up 4.7 percent. Wages, up 2.6 percent in Broward, 3.9 percent Palm Beach, 0.7 percent in Miami Dade.

In 2004, Inflation up 3.9 percent. Wages up 2.5 percent in Broward, 2 percent in Palm Beach, 0.2 percent in Miami-Dade.

The year when it didn’t work this way was 2003, when inflation was a weak 2.1 percent. Workers managed to get a bit more, 3.1 percent in Broward, 3.5 percent in Palm Beach and 2.6 percent in Miami Dade.

Why does everyone feel like they’re barely getting by?

“And the answer is, because they are squeezed. Next question,” quipped economist Jared Bernstein, author of the recently released Crunch: Why Do I Feel So Squeezed?.

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About This Blog

You've got the job of managing your money. No one in school taught you how.

But you and I, we can teach each other, how to handle it, how to save for retirement, how to make money... < More >

Harriet Johnson Brackey Harriet Johnson Brackey, the personal finance writer for the Sun-Sentinel, has been an award-winning business...< More >

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