Young Workers See Fastest Wage Growth Out of Any Age Group

As companies struggle to recruit and retain employees, major retailers are raising wages. According to Atlanta Federal Reserve Bank data, the country's youngest workers are seeing the fastest wage growth of any group, even outpacing inflation. Daniel Altman, chief economist at staffing firm Instawork, breaks down the impact of inflation on the labor market, the power shift from employer to employee, and how the Russia-Ukraine crisis might impact jobs and salaries moving forward. "There's a feeling that the wage increases have been postponed for quite a long time and with prices going up, there's just a little more urgency right now," he said.