Bye. sees wages increase by 5.1%, but inflation affects purchasing power | Friday morning coffee

Good morning Friday, dear seekers.

Here’s the good news: The average weekly wage in the Keystone State saw a 5.1 percent year-over-year increase last year, and the job market still belongs to workers. But rising prices for what I will call Sesame Street staples – a loaf of bread, a container of milk and a piece of butter — are eating into those profits, according to fresh data.

As reported by Axiosfood prices (which increased by 10.4%) contributed to the increase Consumer Price Index increased 9.1 percent over the past year, the largest annual increase since November 1981.

If there’s a silver lining here, it’s that skyrocketing gas prices appear to be slowing down. The average price of a gallon of regular gas has dropped 19 cents over the last two weeks on average $4.61 per gallon domestically, Axles reports.

Nevertheless, employees still have problems with collecting salaries. According to a fresh report prepared by financial literacy website Smartest Dollarwhile nominal wages continue to rise, inflation-adjusted wages show signs of falling.

The website’s analysis shows that average weekly wages in unadjusted dollars rose to $1,339 in the last quarter of 2020 and rose again to $1,418 in the last quarter of 2021. However, the analysis found that inflation-adjusted wages fell in the same period by 0.8 percent, from $1,429 to $1,418.

(Source The smartest dollar).

The analysis found that some industries also did better than others at keeping up with inflation. The leisure and hospitality industry, for example, which bore the brunt of the Great Resignation, is rapidly raising wages to retain workers, the analysis shows.

“But in many other sectors of the economy, inflation has completely wiped out wage growth. “Manufacturing, construction, and education and health services saw declines in inflation-adjusted wages in 2020-21,” the analysts wrote.

Demonstrators participate in a protest outside McDonald’s headquarters on January 15, 2021 in Chicago, Illinois. The protest was part of a nationwide push to raise the minimum wage to $15 an hour (Photo: Scott Olson/Getty Images).

The analysis shows that wage growth also varies depending on where you live. While all 50 states showed some unadjusted wage growth in 2020-21, the analysis found that only 13 saw inflation-adjusted growth.

“Among them, New Hampshire (5.2% inflation-adjusted increase) and Florida (2.8%) stand out as the only states where workers saw inflation-adjusted wages increase by more than 1%. from the end of 2020 to the end of 2021.” – he added. – summarized the analysts.

Philadelphia City Hall (photo via pxHere.com)

In Pennsylvania, Republicans used inflation data as a cudgel against… Biden White House and touting his own legislative priorities.

The $45.2 billion budget passed by the GOP-controlled General Assembly Democratic governor Tomek Wilk last week “reflects an investment in Pennsylvania’s greatest asset – our people.” Erika Clayton Wrightstate spokesman Senate Majority Leader Kim Ward, R-Westmoreland– wrote in the statement.

The GOP goal in the fiscal plan was to “ensure future financial stability without new taxes or tax increases, while making necessary investments to help Pennsylvanians in the areas of child care, long-term care, small business and education, while alleviating the pain of policies established in Washington.” , Clayton Wright he said.

(Getty Images).

Our stuff.
Since the 2020 elections 26 states enacted, expanded or strengthened 120 election-related criminal penalties, Capital of Democracy reporter Kira Lerner writes in the first part of a two-part series.

Abortion rights activists gathered Thursday in the parking lot outside the office of a top Republican in the state Legislature, where they planned to speak with the lawmaker in person about GOP-backed efforts to restrict access to abortion. Our summer intern, Jaxon Whitehas its own history.

A first-of-its-kind set of programs designed to support and invest in Pennsylvania’s $132.5 billion agricultural industry was fully funded for the fourth time, Kasia Miller reports.

Allegheny County Executive Rich Fitzgerald he could face veto invalidates laws on fracking and supervision of executivesour partners at Pittsburgh City Document report.

In the Capital Star: Dad’s budget adds money for gun violence prevention programs fire; major reforms remain unrealized. and the governor Tomek Wilk signs executive order protecting patients from other states wanting abortions in Pennsylvania.

On our comments page this morning: Ohio GOP Tried to Expunge 10-Year-Old Rape Victim he is diseased and anxious, David DeWittour sister site, Ohio Capital JournalI’m writing. AND United States Supreme Court is the country’s fresh climate czarregular opinion Fletcher McClellan I’m writing.

State Sen. Doug Mastriano, R-Franklin, attends a Senate Education Committee hearing held at the Pennsylvania Capitol on May 24, 2022, in Harrisburg, Pennsylvania (photo by Amanda Berg for the Capital-Star).
State Sen. Doug Mastriano, R-Franklin, attends a Senate Education Committee hearing held at the Pennsylvania Capitol on May 24, 2022, in Harrisburg, Pennsylvania (photo by Amanda Berg for the Capital-Star).

Elsewhere.
The GOP governor hopes more Republicans will line up to oppose him Doug Mastriano Is claiming he has “secret” Democratic support, Inquirer reports.

The Democrat Lieutenant Governor’s Past Hopeful Misogynistic Tweets Austin Davis have been brought to lithe, Mail Newspaper reports. According to the newspaper, he expressed regret about them.

The long-awaited reconstruction of North 2nd Street in Harrisburg to a two-way street has been delayed, PennLive reports.

Shareholders will not receive any money from the sale With Armstrong floor, Lancaster on the Internet reports.

The Pennsylvania Public Utility Commission will investigate York Water’s 31 per cent increase, York daily record reports.

Plans for Lehigh County’s oft-discussed health office they are moving forward again, Morning call reports.

The Wyoming Area Police Commission in Lucerne County appointed his first boss, Voice of Citizens reports.

Homosexuality it was eventually removed from the Pennsylvania penal codenow this Governor Tom Wolf signed the change in law, WHY-FM reports.

The state court system says is not responsible for prohibitions issued by district judges drugs for opioid addiction, PA reflector reports (via WITF-FM).

Go Erie looks at the next act Former Erie County District Attorney.

More states may legalize psychedelic mushrooms, Stateline.org reports.

Here’s your #Pennsylvania Instagram of the Day:

(Source: @WatchedByBirdos/Instagram.com).

What’s going on
1:00 p.m., Carousel, City Island, Harrisburg: DCNR Secretary Cindy Adams Dunn joins employees to celebrate Parks and Recreation Professionals Day.

Wolf watch
Governor Tom Wolf is still in Maine for a summer meeting National Governors Association — his final role as state chief executive.

Heavy rotation
This week we will be launching fresh music from Jaime XX. Here’s an extended mix of “Let’s do it againto spend a nice Friday morning.

Friday free football link
Chelsea they abandoned efforts to sign Christiano Ronaldo away from First league rivals Manchester United after meeting with representatives of the Portuguese striker, Guardian reports.

And now you’re up to date.

Get in Touch

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related Articles

Latest Posts