Since nominal GDP is calculated using current prices, it does not require any adjustments for inflation. This makes comparisons from quarter to quarter and year to year much simpler to calculate and analyze. Keep in mind, though, that any comparisons are less relevant. ...
Calculating your real hourly wage is not always an exact science. You can’t always predict promotions, random out of pocket expenses, or an office move. But you can get pretty darn close. Here’s how to do it. For sake of standardizing, let’s look at everything on an annual level....
Putting aside extra money isn’t easy when you’re working a minimum wage job. Consider these tips to help budget with what you have.
This chart shows how the real minimum wage has been stagnant for yearsJeff Desjardins
How do you calculate the inflation rate? What is the relationship between nominal income and the inflation rate in the USA if US citizens are said to be keeping up with inflation? If the growth rate of the money supply is 5 percent, the inflation rate is ...
A wage-price spiral is a macroeconomic theory that explains the cause-and-effect relationship between rising wages and rising prices, which leads to inflation.
When calculating overtime pay for non-exempt employees , you need to understand how to do it for hourly and salaried workers. Hourly workers may take up the lion’s share of non-exempt workers entitled to time and a half pay , but it’s also vital to know how to calculate overtime pa...
How to calculate your required income for a mortgage A helpful tool for estimating the income required for a mortgage is a home affordability calculator. This tool considers the overall cost of homeownership, including the principal, interest rate, property taxes, and homeowners insurance — commonly...
In such a tight labor market, employers typically need to pay higher wages to attract employees, ultimately leading to rising wage inflation.3 Over the years, economists have studied the relationship between unemployment and wage inflation, as well as the overall inflation rate. The Phillips ...
If you're a sole proprietor used to wearing all the hats, hiring employees can be a huge step. But transitioning from a one-person show to a team leader requires a shift in mindset and a solid understanding of the unique considerations that come with hiring. ...