It’s no secret that workers’ income is not keeping up with inflation. Analysis from the Brookings Institution thinktank found that although some big companies had increased total compensation, those increases were less than half the going rate of inflation. And inflation at that time was about 7% – it’s since jumped to 8.6%. Other studies have shown that one in five American workers are living paycheck to paycheck. Overall hourly wages, according to the US government, have increased about 6% over the past year, a healthy rise, but still not enough to keep up with the cost of living.
Now, a new study released in Pride month from the insurance company Nationwide finds that one group of workers appears to be hit harder by inflation than others. That group are members of the LGBTQ+ community.
