Get ready for more money: The highest annual increase in 15 years is anticipated from employers in 2023, when salary budgets are expected to rise by 4.6 percent.
That’s according to the most recent international survey by consulting firm Willis Towers Watson, which asked 1,550 employers in the United States for their opinions. Between the 3rd and 4th of October, the survey was administered.
The vast majority of businesses attributed the significant increase to rising inflation and a tilyght
However, given that headline inflation remains at 7.7%, any raise below those levels effective labor market indicates that an employee will earn less because their paycheck won’t buy as much.
Market conditions frequently influence the difference between what businesses anticipate paying more for a given year and what they actually pay. For instance, according to a survey conducted by Willis Towers Watson this year, 70% of businesses reported spending more than they had anticipated. Overall, this year employers spent 4.2% more on salaries than in 2021.
Get ready for more money: The highest annual increase in 15 years is anticipated from employers in 2023, when salary budgets are expected to rise by 4.6 percent.
That’s according to the most recent international survey by consulting firm Willis Towers Watson, which asked 1,550 employers in the United States for their opinions. Between the 3rd and 4th of October, the survey was administered.
The vast majority of businesses attributed the significant increase to rising inflation and a tight labor market.
However, given that headline inflation remains at 7.7%, any raise below those levels effectively indicates that an employee will earn less because their paycheck won’t buy as much.
Market conditions frequently influence the difference between what businesses anticipate paying more for a given year and what they actually pay. For instance, according to a survey conducted by Willis Towers Watson this year, 70% of businesses reported spending more than they had anticipated. Overall, this year employers spent 4.2% more on salaries than in 2021.
