Wages and Salaries Up 5% for Private Industry Workers in 2021, Less Than Inflation
— from shrm.org by Stephen Miller
Labor costs increased at the highest rate in two decades
Excerpt (emphasis DSC):
However, when adjusted for inflation, “constant dollar” private wages and salaries fell 1.9 percent for the 12 months ending December 2021.
Consumer prices rose 7 percent year-over-year in December 2021, the largest 12-month increase in nearly 40 years, the BLS reported on Jan. 12, adding pressure on employers to raise wages going into 2022.
From DSC:
Real wages not keeping up with the rate of inflation here in the United States…this doesn’t look good for the higher education industry here. This could be yet another component of the perfect storm within higher education.