Cost Of Living Has Increased, But Many Workers' Pay Hasn't
Research shows wages for many low-income workers are steady despite rising costs of living, meaning they can't afford some necessities.By Matt Moreno | September 3, 2015
Even with an improving job market, many American workers aren't seeing improving paychecks, and new research suggests the families with the lowest incomes are getting hit the worst.
The National Employment Law Project says since the recession, many workers' pay has stayed the same while cost-of-living expenses increased. This means people have less money for necessary goods and services — essentially, their "real" wages dropped compared to a year ago working the same job.
While the fluctuation was different depending on the job, the researchers say low-income families are clearly experiencing the greatest declines.