The opening balance from the prior month combined with the net of all transactions during the period should result in the closing balance for the current statement.
A cost-of-living raise is an increase in pay that's intended to keep the buying power of an employee's salary the same during a period of inflation.he biggest group affected by cost-of-living raises is Social Security recipients. Some employees have contracts that include automatic cost-of-living raises. Others work for companies that voluntarily increase pay to keep pace with inflation.
I'm not certain that the national minimum wage should be increased, but it probably needs to be increased locally in some areas of the United States. The cost of living in the US varies widely depending on where you are. In some major cities, the cost of living is easily twice what it is in lower cost areas.