Inflation Rate Continues to Go Up Reducing Value of 2022 Federal Pay Raise
The inflation rate measured by the CPI-W went up 7.8% in 2021 reducing purchasing power of the 2022 COLA and pay raise now in effect.
Federal employees under the General Schedule (GS) get an annual pay raise most years. Articles in this section are an important resource for federal employees to stay informed about their pay and any potential changes that may affect their salaries. These articles emphasize the importance of understanding the factors that contribute to pay adjustments and the broader economic context in which these decisions are made.
The inflation rate measured by the CPI-W went up 7.8% in 2021 reducing purchasing power of the 2022 COLA and pay raise now in effect.
President Biden’s Executive Order on the 2022 federal pay raise impacts a number of federal employee pay schedules.
The 2022 GS pay scale is based on the 2022 federal pay raise which authorized an overall average raise of 2.7% for federal employees.
A vaccine mandate, a big COLA, and more telework: these are some of the biggest events for federal employees in 2021.
Which locality pay areas received the highest—and lowest—pay raise in 2022? Here is the list.
President Biden has issued an Executive Order implementing an average federal employee pay raise of 2.7% effective January 1, 2022.
Inflation is soaring. The 2022 COLA will be 5.9%. Inflation is now at 7.6% over 12 months per the CPI-W and the 2022 federal pay raise is projected at 2.7%.
Federal employees may soon have another leave benefit at their disposal: paid parental bereavement leave.
Will the continuing resolution have an impact on the 2022 federal pay raise for federal employees?
The 2021 inflation rate so far is now 6.2%. With a projected 2022 federal pay raise of 2.7%, and a COLA of 5.9%, purchasing power is declining fast.