Happy Friday the 13th!!
If you live and work in the United States and didn’t get a raise of 2.9% this year, you’re actually making less than you did last year.
The CPI data released yesterday showed a rather nasty increase bringing the rate of inflation to just under 3%.
Unfortunately for American workers, the average hourly earnings that were published a week ago showed a growth of only 2.7%.
That means that all the increases American’s received in their salaries over the last year have been completely wiped out by inflation.
So, is the US economy really doing great?