New Data 2022 Now Posted
Written by on 05/20/2022
The 2022 date update of the Living Wage Calculator is now online.
In all previous years, we posted data in the first quarter. This year we reprogrammed the tool to make it more efficient. This took longer than expected; reprogrammings inevitably led to bugs. The only way to find the bugs is to run the model. We needed users to help find the bugs. Fixing the bugs took time.
Another complicating factor is the current rise in inflation. Adjustments were complicated to handle this year. From December 30, 2021, to April 2022, the CPI changed from 7.5% to 8.3%. The tool's cost elements varied more widely than the aggregate CPI. The CPI is a national average and registers correct data at the national level. The CPI samples primarily urban areas. Knowing how much the cost of living varies across the country, we chose to adjust discrete components when they were 2x higher than in previous years (transportation and Misc. Expenses). The device is now stable.
Next year we will not be reprogramming the tool. We are preparing to track inflation over the year. The change in the national CPI over a short time period will make tracking CPI changes all the more important.
