A new report says that U.S. salaries aren’t keeping step with inflation—and it’s rising fuel costs that have Americans scaling back spending and scared of losing their shirts. A poll found that Americans aren’t satisfied with their salaries, and their foremost concern is over the furiously rising cost of fuel. The U.S. economy saw an expansion, beginning with the tech boom of the late 1990’s, but, strangely, didn’t see a big enough increase in salaries to keep up with inflation—in particular, high prices at the pump. Experts say that consumers haven’t noticed such an obvious jump in prices of most other goods, but for gas. The sting of fuel prices has Americans feeling disenchanted by their comparably pitiful earning power and pessimistic about the country’s sinking economy.
Sources: The New York Times and NPR.
Related posts:
{ 2 comments… read them below or add one }
This will just cater to the people who would regularly buy a $50K SUV. I do not see this taking off at all.
GM announced this morning they will be closing four North American plants that make trucks and Suvs. Good luck with this plant too. Some people have to be really smacked across the head to wake up.