tldrdaily.news logo
Tag

Buying Power

All articles tagged with #buying power

finance2 years ago

Social Security COLA for 2024 may see smallest increase due to cooling inflation.

Social Security beneficiaries are likely to receive a smaller cost-of-living adjustment (COLA) in 2024 due to a quirk in the calendar and the use of an alternative index to determine the adjustment. The annual Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) fell to 3.6% in May, which is the index used to determine the COLA for Social Security recipients. Advocacy groups estimate that the COLA for 2024 could be as small as 2.7%, which would be a significant decrease from this year's 8.7% bump. Retirees have been struggling with the soaring cost of everyday items, and inadequate COLA increases have left many behind on household costs.

via NBC News|
#buying-power#cost-of-living-adjustment#finance
business2 years ago

Navigating the Complexities of Corporate Support for Pride Month

Despite negative publicity and pushback, many big companies including Target, Bud Light, PepsiCo, Starbucks, General Motors, and Macy's are still sponsoring Pride events in June. The buying power of the LGBTQ+ community is too big for nationwide companies to ignore. However, negative social media posts attacking companies for being "woke" and accusing them of sexualizing or grooming children are on the rise.

via Greater Baton Rouge Business Report|
#business#buying-power#corporate-sponsorship
finance2 years ago

Social Security Earnings and Benefits: What You Need to Know for 2024.

Rising costs have eroded the buying power of Social Security earnings by 36%, according to a recent study by The Senior Citizens League. Older Americans that retired before 2000 would have to earn an extra $516.7 more per month or $6,200 more this year than what they are currently getting to maintain the same level of buying power as in 2000. The loss of buying power comes even as Social Security cost of living adjustments increased by 8.7%, which boosted the average monthly benefit by about $140. The loss in buying power this year slightly improved from last year's 40% decline in purchasing power but is still one of the most profound losses recorded by the TSCL study.

via Fox Business|
#buying-power#debt#finance
finance2 years ago

2024 Social Security COLA increase projected to shrink due to easing inflation.

The Senior Citizens League has estimated that the cost-of-living adjustment for Social Security benefits in 2024 could be 3.1%. However, the buying power of Social Security benefits has dropped by 36% since 2000, with eggs being the fastest-growing cost for seniors over the past year. To maintain the same standard of living as in 2000, retirees would need an extra $516.70 per month. While a higher cost-of-living adjustment may prompt higher spending among older Americans, it is delayed relief for those struggling with high inflation.

via CNBC|
#buying-power#cost-of-living-adjustment#finance