In the U.S., the cost of living has risen significantly—over 15% from 2021 to 2024—while worker wages have only increased by about 8%. This disparity has eroded purchasing power and diminished living standards for many Americans. However, some sectors are seeing wage growth, particularly in specialized manual labor occupations, which have reported increases over 10% in the last year. Data from the Bureau of Labor Statistics indicates that while median wages only modestly increased overall, specific job categories are better positioned to absorb rising costs and maintain living standards.
In recent years, the cost of living in the United States has increased at a faster rate than wages, leading to a reduction in purchasing power for many.
While the median annual wage rose by 3%, job sectors such as manual labor have seen wage increases exceeding 10%, highlighting economic imbalance.
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