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August 10, 2022

On This Day in 1981
Some 15,000 air traffic controllers strike. President Reagan threatens to fire any who do not return to work within 48 hours, saying they “have forfeited their jobs” if they do not. Most stay out and are fired Aug. 5.  
~ Labor Tribune

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Workers Wages Continue to Climb, But Not as Fast As Inflation
Posted On: Aug 03, 2022
Aug. 3, 2022 | ECONOMY | […] The data shows that people are really falling behind, said Jason Furman, an economics professor at Harvard University and former chair of the Council of Economic Advisers in the Obama administration. "And they're falling behind, not because wage growth is slowing, but because price growth is so high," Furman said. "And that's a worrisome sign for the future." The super-tight labor market during the Covid-19 pandemic has forced employers to increase their compensation to fill open positions and hold on to their staff, though the raises aren't keeping up with the cost of living. This is adding to concerns about the duration and pervasiveness of inflation. CNN Business
 
 
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