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MoneyWatch: Wage increases fail to keep pace with inflation

Name: MoneyWatch: Wage increases fail to keep pace with inflation
Uploaded: 2022-03-14T13:43:16-0400
Duration: 2 min 40 s
Description: Average hourly wages have increased by more than 5% over the past year, but the inflation has grown by nearly 8% over that same period. Laura Veldkamp, a professor of finance and economics at Columbia Business School, spoke with CBS News' Tony Dokoupil and Lilia Luciano about how rising prices are outpacing wage increases nationwide.

Average hourly wages have increased by more than 5% over the past year, but the inflation has grown by nearly 8% over that same period. Laura Veldkamp, a professor of finance and economics at Columbia Business School, spoke with CBS News' Tony Dokoupil and Lilia Luciano about how rising prices are outpacing wage increases nationwide.