A new Atlanta Fed analysis shows that workers who switched jobs in the 'Great Resignation' were more likely to receive a pay increase that beat inflation.
Large"Now Hiring" advertisement posted on the windows of the Advance Auto Parts store in Bay Shore, New York on Mar. 24, 2022.the pandemic beganAt the same time, stubbornly high inflation has left many workers in a cost-of-living crunch, with most households forced to pay more for everyday necessities like food and rent. Many individuals saw their real wages fall last year when factoring in the cumulative effect of inflation.
The Atlanta Fed analysis, conducted by senior policy adviser John Robertson, shows that younger workers, as well as job switchers, had the highest chances of keeping up with inflation. "Some workers have seen their nominal hourly wage increase proportionately more than others because of the tight labor market during the last couple of years, which has blunted the impact of higher inflation on those workers," Robertson wrote in the blog post.
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