© 2024 KOSU
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
Help KOSU answer phones in OKC between March 8 - 14!

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.

KOSU is nonprofit and independent. We rely on readers like you to support the local, national, and international coverage on this website. Your support makes this news available to everyone.

Give today. A monthly donation of $5 makes a real difference.