Every other year the American Orthotic and Prosthetic Association (AOPA) collects data on O&P companies and O&P wages. This allows for tracking of patterns and comparing compensation across the industry. As the data grows, trends emerge regarding wages. I have been observing that paychecks in the United States are not keeping up with the rising cost of goods. According to Fox Business News, the “average American family lost $6,000 in annual wages” in 2022 due to the rise in the cost of everyday expenses.1 Reading articles like this made me wonder how O&P wages have fared as compared to inflation and the overall buying power of the money we earn. Maintaining livable wages for O&P staff is critical to keeping qualified and knowledgeable experts in the profession while promoting industry growth.
When investigating inflation, our first question must be, “How is inflation measured?” The government measures inflation through a standard called the Consumer Price Index (CPI). The CPI is defined as “the cost of living required to maintain a constant standard of living.” Historical context is required to really understand what the CPI is. From 1913 through 1990, the CPI counted housing, food, fuel, goods, and services as a general picture of the economy. In 1990, the government changed the definition of inflation from “the cost of living” to “the cost of living needed to maintain a constant standard of living.” This allowed the government to change the way food, energy, and housing are considered in the equation, leaving primarily consumer goods and services.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
