For many Americans, the pressure this year is coming from more than just higher prices. Wage growth has also been sluggish, leaving households with less room to manage monthly expenses.
The labor market is still holding up reasonably well, with unemployment at 4.1% according to the Bureau of Labor Statistics. Even so, many economists describe it as a “no hire, no fire” environment, where companies have little incentive to add workers or reduce headcount.
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