I got one of those silly “The Year You Were Born” birthday cards this year from my mom and all I can say is “Gee, thanks Mom!” (brimming with sarcasm). This card is about as depressing as opening your fridge, finding nothing to eat, and then remembering you just spent $200 at the grocery store. It doesn’t bother me that I’m a year older. It’s depressing because it also shows the costs of typical household items back in the day like bread, eggs, gas… a car!

I realize that normal inflation is just part of a free market economy, but geez, a brand-new Chevy Suburban cost about $3,900 in 1971. Now granted, that would be around $30K today, but in reality, a 2024 Chevy Suburban will actually set you back a whopping $85K. My point is this: inflation has many people teetering on the edge of bankruptcy, and even though it’s been slowing recently, wages will most likely never catch up to where prices are in terms of our buying power.

Did you know that the federal minimum wage is still only $7.25? Yes, you read that correctly! In 2024 the U.S. federal minimum wage is still only $7.25. Now, some of you live in states that have a much higher state minimum wage but here in the State of Texas, they still use the federal minimum wage. I mean, who the hell can live off that! At ResearchSIX, our interviewers and other hourly positions have seen a 50% pay rate increase (on average) since 2020. That’s meant raising our prices and drastically cutting our profit margins. Not an easy decision, but it’s the right thing to do!