![]() It is strongly related to the typical raise a worker would receive in a given year, as represented by a percentage of current payroll. In the chart below, "salary increase budgets" refers to the pool of money an organization dedicates to salary increases for the coming year. He warned, "A wage-price spiral-where higher prices and rising wages feed each other, leading to faster increases in both-may already be in the works." ![]() Wages for new hires and workers in blue-collar and manual services jobs will grow faster than average."Īt the same time, he noted, "there are no signs of inflation slowing down, and it may remain elevated in the coming months, increasing the need for cost-of-living adjustments." "During that time, overall wage growth is likely to remain well above 4 percent. "It is likely that severe labor shortages will continue through 2022," wrote Gad Levanon, vice president of labor markets at The Conference Board.
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