Latest 2024 Cola Projection. The fed is forecasting that the jobless rate will inch up to 4.1% for 2024 and. Inflation is high but slowing down, which means social security recipients will see a lower cola next year, according to a forecast from the senior citizens league, a nonprofit.
The latest forecast for the social security administration’s annual cost of living adjustment, or cola, has put the 2024 projection at less than 3% based on the may 2023. With inflation receding, the cola and social security payments starting in january 2024 could be much less than the most recent increase.