For the first time since the early 1980s, inflation is a sincere concern for U.S workers. As it drives up prices of daily necessities and diminishes the value of money already saved, "real" hourly earnings (wage growth minus inflation) have declined 3% since May 2021. That has the same impact as an across-the-board pay cut.
The impact of inflation can lead to increased financial stress for employees as they navigate economic uncertainty. How can employers help employees cope? By optimizing benefit offerings, employers can demonstrate they understand the financial pressures employees face – and provide solutions to help. This is especially critical ahead of open enrollment.
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