Pay Expectations on the Rise

(From SHRM) In February, after accounting for inflation, average hourly wages fell 2.7% from a year earlier. It was the 12th straight monthly drop in inflation-adjusted wages. As inflation keeps rising, so do employees' expectations for higher wage and salary increases. In fact, a survey of 5,000 U.S. workers conducted earlier this year by Grant Thornton LLP, an audit, tax and advisory firm, found that among the respondents:

• 40% pay increases of greater than 6% this year.
• 31% expect more than 8%.
• 21% anticipate receiving more than 10%.

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