The Fed has created this mess. They report misleading CPI figures and Corporations think it’s okay to adjust employee pay by a percent figure close to the CPI, if at all.
I.e. 2% inflation, 1.8% inflation raises for employees results in a 0.2% pay cut.
In reality the actual inflation rate is double the CPI figure. Using the example above employees are actually getting a 2.2% annual pay cut.
No wonder nobody wants to work. Go spend 40 hours a week and still be unable to eat anything other than Ramen.
Corporate greed and bad management (rude, dismissive of employees real issues, concerns and lives) is a real problem too. But this starts with the Fed.