Survey Finds 54.7% of U.S. Salaries Haven't Kept Up With Inflation; Men 33.3% More Likely Than Women to Have Salary Match CPI
Results Indicate That Americans Are Earning Less in Relative Terms Than They Were Before the Pandemic; Women Worse Off Than Men
NEW YORK, July 19, 2022 /PRNewswire/ -- A new survey conducted by SophisticatedInvestor.com of 3,002 U.S. adults found that 54.7% of American workers have not had their hourly wage or salary match the consumer price index (CPI), the standard metric for consumer inflation.
This important national survey indicates that rising inflation levels have resulted in an effective pay cut for the majority of U.S. employees. This is especially true for women, who were found to be 33.3% less likely to have their salary match inflation compared to their male counterparts.
The survey asked a nationally representative, weighted sample of 3,002 U.S. adults the following question:
"Has your salary or hourly wage kept up with inflation?"
The results held that all demographic groups polled, across all age categories and genders, are seeing their pay checks eroded by inflation. Mid and advanced-career employers aged 45 to 54 were, in fact, the most likely to report having their salary outpaced by inflation (65.6%), whereas the youngest age cohort (18 to 24) were the least likely (43.8%).
Although no meaningful geographical trendlines were found in the data, the gender-based findings were significant. The disparity between male and female respondents suggest that women may be experiencing economic difficulties more often and to a greater degree than men.
The survey was designed and published by SophisticatedInvestor.com, a free personal finance education website. Responses were gathered from a nationally-representative sample, spanning every state in the United States, over a 72-hour period between July 11th and July 13th, 2022, and were published on July 19th.
Writer and analyst Liam Hunt, one of the study authors, commented on the significance of the findings:
"These survey results indicate that the majority of the U.S. workforce is having their effective income reduced by inflation year-over-year. At a time when housing inaffordability and the cost of living is accelerating at a rapid pace, these data are particularly concerning.
This is especially true for women, who this survey found to be affected by inflation moreso than men. Gender-based discrimination and systemic barriers to raises and promotions may play a role in keeping women from advancing their salaries at the same rate as men."
See the complete study results at:
Media Contact:
Amine R.
+1 (347) 682-3532
[email protected]
SOURCE SophisticatedInvestor.com
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