© 2024 WSHU
NPR News & Classical Music
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
We received reports that some iPhone users with the latest version of iOS cannot play audio via our website.
While we work to fix the issue, we recommend downloading the WSHU app.

A rare bit of good financial news: Cost of living adjustment for social security recipients

It was announced last week that there would be a substantial cost of living adjustment (COLA) for social security recipients. Next year’s COLA of 8.7% will be the biggest jump in over 40 years. It is a rare spot of good news in the current economic climate as other figures showed wages failing to keep pace with inflation, meaning most workers have seen a real-time decrease wages.

Jill Schlesinger is a CBS News business analyst and host of “Jill On Money” and joins Here & Now‘s Robin Young for more.

This article was originally published on WBUR.org.

Copyright 2022 NPR. To see more, visit https://www.npr.org.