How Inflation Might Be Impacting Labor Market, Wages

With April’s CPI surging faster than expected, Nela Richardson, the chief economist at payroll processor ADP, joined Cheddar News to break down the country’s inflation and discuss how inflation might be impacting the job market. "We're not seeing the freeze in hiring. If you recall that April jobs report that 428,000 jobs created, that's still solid and robust," she said. "We are hearing though the challenge of setting wages in an inflationary environment. We are hearing from companies that employers or employees are coming to their bosses and asking for a cost of living increase on top of the wage increase they may have already earned to keep up with inflation."
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