Summary List Placement
Higher pay and prices are sticking around. But don’t expect them to keep surging higher.
The economic reopening and resulting surge in spending have driven inflation to dizzying highs. Bolstered savings have run up against rampant supply shortages, leading to outsized demand and higher prices.
At the same time, the unusual labor shortage has powered extraordinary wage growth. Companies struggling to rehire have jacked up starting pay in a bid to attract workers, with the largest raises seen in sectors hit hardest by the pandemic, such as leisure and hospitality. That’s resulted in the biggest jump in wages details ⇒
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