When wages are described as 'sticky', it means they don't adjust quickly to changes in the economy. This term is often used in the context of inflation, where prices for goods and services increase but wages don't keep pace. This is due to a couple of reasons. Firstly, while prices can be adjusted frequently, wages are usually reviewed and adjusted only once or twice a year. Secondly, companies are often reluctant to make significant changes to wages, either up or down, at any one time.
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Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.