It’s no secret that inflation has been the culprit of some tough times for American households. A recent report from Statista shows that inflation outpaced wages from April 2021 to February 2023. But even while wage growth is on the rebound, many households are struggling to keep up financially.

Chart Data Source: Social Security Administration and Current US Inflation Rates BambooHR’s Compensation Trends for 2024 report reflects the financial stress many are feeling and gives insight into why.

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