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New Survey Bolsters Hope for Wage Growth
The majority of companies surveyed by the National Association for Business Economics said they would raise wages in the next three months, giving hope for growth in one of America's most sluggish economic indicators. Fifty-one percent of the 93 economists surveyed said wages would jump, compared to 34% in the October survey. One-third of respondents said they'd lifted wages in the fourth quarter, up from 24% in the prior period.
"It seems as if a number of companies made a decision to kick-up wages at the end of the year. At this stage of the cycle where the unemployment rate has come down, hiring goals continue to improve and now wages are kicking in," said NABE president John Silvia.
