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Cost-of-living
The cost of living is the cost of maintaining a certain standard of living for an individual or a household. Changes in the cost of living over time can be measured in a cost-of-living index. Cost of living calculations are also used to compare the cost of maintaining a certain standard of living in different geographic areas. Differences in the cost of living between locations can be measured in terms of purchasing power parity rates. A sharp rise in the cost of living can trigger a cost of living crisis, where purchasing power is lost and, for some people, their previous lifestyle is no longer affordable. The link between income and health is well-established. People who are facing poverty are less likely to seek regular and professional medical advice, receive dental care, or resolve health issues. The cost of prescription medicine is often cited as a metric in cost of living research and consumer price indices. Cost of living pressures may lead to household energy insecurit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Of Living Crisis
A cost-of-living crisis refers to a socioeconomic situation or period of high inflation where nominal wages have stagnated while there is a sharp increase in the cost of basic goods, such as food, housing, and energy. As a result, living standards are squeezed to the point that people cannot afford the standard of living that they were previously accustomed to. Public health is threatened. The population becomes 'poorer' than it used to be in real terms. This is in contrast to a situation in which wages are rising to meet the rate of inflation and workers' standard of living remains unchanged. During the 2020s, a cost-of-living crisis impacted many countries around the world amid global inflation. In February 2023, 3 out of 4 consumers globally were worried about the rising cost of everyday expenses. ''The Big Issue'' defines a cost of living crisis as "a situation in which the cost of everyday essentials like groceries and bills are rising faster than average household income ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost-of-living Index
A cost-of-living index is a theoretical price index that measures relative cost of living over time or regions. It is an index that measures differences in the price of goods and services, and allows for substitutions with other items as prices vary. There are many different methods that have been developed to approximate the cost of living index. A Konüs index is a type of cost-of-living index that uses an expenditure function such as one used in assessing expected compensating variation. The expected indirect utility is equated in both periods. Application to price index theory The United States Consumer Price Index (CPI) is a price index that is based on the idea of a cost-of-living index. The U.S. Department of Labor's Bureau of Labor Statistics (BLS) explains the differences: The CPI frequently is called a cost-of-living index, but it differs in important ways from a complete cost-of-living measure. BLS has for some time used a cost-of-living framework in making prac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation M2 CPI
In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of CPI inflation is deflation, a decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. Changes in inflation are widely attributed to fluctuations in Real versus nominal value (economics), real demand for goods and services (also known as demand shocks, including changes in fiscal policy, fiscal or monetary policy), changes in available supplies such as during energy crisis, energy crises (also known as supply shocks), or changes in inflation expectations, which may be self-fulfilling. Moderat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumer Price Index
A consumer price index (CPI) is a statistical estimate of the level of prices of goods and services bought for consumption purposes by households. It is calculated as the weighted average price of a market basket of Goods, consumer goods and Service (economics), services. Changes in CPI track changes in prices over time. The items in the basket are updated periodically to reflect changes in consumer spending habits. The prices of the goods and services in the basket are collected (often monthly) from a sample of retail and service establishments. The prices are then adjusted for changes in quality or features. Changes in the CPI can be used to track inflation over time and to compare inflation rates between different countries. While the CPI is not a perfect measure of inflation or the cost of living, it is a useful tool for tracking these economic indicators. It is one of several Price index, price indices calculated by many national statistical agencies. Overview A CPI is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchasing Power Parity
Purchasing power parity (PPP) is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currency, currencies. PPP is effectively the ratio of the price of a market basket at one location divided by the price of the basket of goods at a different location. The PPP inflation and exchange rate may differ from the Exchange rate, market exchange rate because of tariffs, and other transaction costs. The purchasing power parity indicator can be used to compare economies regarding their gross domestic product (GDP), labour productivity and actual individual consumption, and in some cases to analyse price convergence and to compare the cost of living between places. The calculation of the PPP, according to the OECD, is made through a ''basket of goods'' that contains a "final product list [that] covers around 3,000 consumer goods and services, 30 occupations in government, 200 types of equipment goods and about ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York City
New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive with a respective county. The city is the geographical and demographic center of both the Northeast megalopolis and the New York metropolitan area, the largest metropolitan area in the United States by both population and urban area. New York is a global center of finance and commerce, culture, technology, entertainment and media, academics, and scientific output, the arts and fashion, and, as home to the headquarters of the United Nations, international diplomacy. With an estimated population in 2024 of 8,478,072 distributed over , the city is the most densely populated major city in the United States. New York City has more than double the population of Los Angeles, the nation's second-most populous city. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Security (United States)
In the United States, Social Security is the commonly used term for the federal Old-Age, Survivors, and Disability Insurance (OASDI) program and is administered by the Social Security Administration (SSA). The Social Security Act was passed in 1935,Social Security Act of 1935 and the existing version of the Act, as amended, 2 USC 7 encompasses several social welfare and social insurance programs. The average monthly Social Security benefit for May 2025 was $1,903. This was raised from $1,783 in 2024. The total cost of the Social Security program for 2022 was $1.244 trillion or about 5.2 percent of U.S. gross domestic product (GDP). In 2025 there have been proposed budget cuts to social security. Social Security is funded primarily through payroll taxes called the Federal Insurance Contributions Act (FICA) or Self Employed Contributions Act (SECA). Wage and salary earnings from covered employment, up to an amount determined by law (see tax rate table), are subject to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CAW Local 200
Unifor Local 200 is a local union of the general trade union Unifor. It represents auto industry workers in Windsor, Ontario at three Ford Motor Company of Canada engine plants and one Nemak aluminum casting plant. History Presidents # Roy England # Jack Taylor # Charlie McDonald # Vic White # Herb Kelly # Hank Renaud # Steve Harris # Ray Wakeman # Frank McAnally # Alex Keeney # Mike Vince ( - January 1, 2010) # Dan Cassady (January 2, 2010 - July 1 2011) # Chris Taylor (July 1, 2011 - ?) # John D'Agnolo ( ? - present) 60th Anniversary Committee (2001). A Walk Through Our History 1941 - 2001. Print Craft Ltd. Collective Bargaining Gains * 1940s - Paid Vacation, Union Security ( Rand Formula), Paid Holidays, COLA ( Cost of Living Allowance), Job Postings, Grievance Procedure, Foreman Working Language, Overtime Premiums, Seniority for Vets. * 1950s - AIF (Annual Improvement Factor), Pensions, Insurance Plan (Medical-Hospital-Surgical), Supplemental Unemployment Benefits ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Journal Group
Atlantic Media, Inc. is an American print and online media company owned by David G. Bradley and based in the Watergate complex in Washington, D.C. It held numerous publications and businesses. Since 2020, it holds a minority stake in ''The Atlantic'', a print and online publication that also holds themed events, and offers business intelligence and consulting services through its National Journal Group subsidiary. Founded in 1997 when Bradley purchased the National Journal Group, the company expanded for three decades by launching several new publications and acquiring others. It began to slim down in 2017 when Bradley sold a majority stake in ''The Atlantic'' to Emerson Collective, and continued by selling ''Quartz'' in 2018, ''CityLab'' in 2019, and the Government Executive Media Group subsidiary with its four publications and websites in 2020. History 20th century Bradley began his foray into publishing in 1997 by purchasing the National Journal Group, which published '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Employees Retirement System
The Federal Employees' Retirement System (FERS) is the retirement system for employees within the United States civil service. FERS became effective January 1, 1987, to replace the Civil Service Retirement System (CSRS) and to conform federal retirement plans in line with those in the private sector. FERS consists of three major components: *The FERS annuity, a defined benefit plan, *Mandatory participation in Social Security (most CSRS employees are not part of Social Security and do not pay taxes into the system, nor are they eligible for benefits unless they qualify under private sector employment or by being rehired and covered as CSRS with a Social Security Offset), and *The Thrift Savings Plan (TSP), a defined contribution plan which operates like a 401(k). Transition from CSRS to FERS Since January 1, 1984, employees with fewer than 5 years of non-military experience on December 31, 1986, were covered under interim retirement rules under which they were covered by bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost
Cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. In this case, money is the input that is gone in order to acquire the thing. This acquisition cost may be the sum of the cost of production as incurred by the original producer, and further costs of transaction as incurred by the acquirer over and above the price paid to the producer. Usually, the price also includes a mark-up for profit over the cost of production. More generalized in the field of economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ..., cost is a metric that is totaling up as a result of a process ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
