Yeah, it's a catch 22 situation for many! But, it's always worked that way..... We've never really gotten ahead, none but the very few.
I'd rather pay more for widgets because some minimum wage worker makes a couple bucks more an hour, than pay more for a product because the company gave a $10,000,000 a year wage increase to the CEO, or because cow hands in Argentina went on strike and leather supply got reduced, raising prices, Cost of goods go up year after year after year after year....our dollar buys less....for one reason or another......why not for wage increases for your minimum wage workers every once in a while?
A labor shortage is only part of what is making prices go up, a supply shortage on goods is contributing too, as well as an oil shortage.....NONE are meeting our demands!!!! American economy has been on fire! Nothing has stopped our pent up, covid induced from lockdown, spending spree! Thus the Fed raising interest rates to try to slow our collective spending.
We, are causing inflation.....
We went from no travel, to full travel and vacations....
We went from slow to no purchasing, but on essentials, to full blown Black Friday spending, every day of the week....
AND Big purchases that were put off like on homes and cars for a couple of years, went to we all want one NOW!
The Market wasn't ready for us!