Inflation woes are upping the pressure for wage bumps.
a lot of folks may be getting raises this year, according to a Payscale survey out Wednesday morningWho doesn't love a salary increase? These numbers look big, but more employers are unsure about their plans in 2023 than last year. And with inflation running at around 6% in the U.S. year over year, some workers are barely keeping pace.
Bigger picture, wage growth helps drive up inflation. And the broad goal of the Federal Reserve right now is to cool that off.80% of employers said they plan on raising workers' base pay in 2023 — that's down considerably from 92% last year, but still, way more than in pre-pandemic times, says Amy Stewart, associate director of content and editorial at Payscale and author of the compensation report.
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