Daniel Ackerman

Of course, everyone wants their pay to keep up with inflation.

But Lujaina Abdelwahed, head of economic research at Revelio Labs, says there's a tough reality in the labor market right now.

She says there just aren't a ton of job openings.

That's a very different situation from the inflation spike of 2021 and 22, says Betsy Stevenson, a labor economist at the University of Michigan.

Back then, workers could pretty much demand whatever pay they wanted to deal with rising prices.

And all that job switching meant workers came out ahead.

But rapid wage growth was one factor that helped push inflation even higher.

And since then, says Ron Hetrick, principal economist at Lightcast.

We have thrown water on this economy to try to cool it down.

Most critically, the Fed raised interest rates.

Higher tariffs have also just increased economic uncertainty, says Hetrick.

Still, the unemployment rate is at a relatively healthy 4.3%, says Michelle Meyer, chief economist at the MasterCard Economics Institute.

And less movement means fewer opportunities for pay bumps.

Meyer says how much that matters will depend on how long the current inflation spike lasts.

I'm Daniel Ackerman for Marketplace.

And I'm going to dash in the lane and watch the TV beside her.

Just tell me to go get it.

I'll go get it, but she said, I don't want to bother you.

You need your rest.

So...