04/10/2024

Top Business

Trend About Business

Employers see pay hikes staying high in 2024 as worker shortages persist

Employers see pay hikes staying high in 2024 as worker shortages persist

Employers see pay hikes staying high in 2024 as worker shortages persist

Sakorn Sukkasemsakorn

With shortages in the U.S. labor market persisting, companies are looking to implement high, albeit cooling, pay raises for next year in a bid to attract and retain employees.

For 2024, employee salary budgets on average are expected to increase 4.0%, accordingWTW