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Friday, December 23, 2011

Class Warfare 101: Did you at least get a COLA?

picture by BeerSlayer, The Freaking News

If you didn't get at least a 3.6 per cent Cost of Living Adjustment (COLA), your pay is not keeping up with inflation. The 3.6 per cent represents the increase to Social Security checks. Of course last year, the increase was zero.

Unions understand this and make sure employees get COLAs, but non union employees actually take pay cuts if they don't receive a COLA every year. After three of four years without a raise or COLA, things can get tight in a household due to inflation.

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