Government Contracts Inflation Update
Procurement Notes
MARCH 16, 2023
For example, from 2013 to 2018, “[y]ear-over-year [wage] growth has mostly ranged between 2% and 3%[.]” [27] Thus, we are presently in a time of accelerating wages. Further, higher labor costs also support higher consumer demand. Consequently, higher labor costs can also create inflationary pressure at the consumer level.
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