Workers pay expected to increase

Workers pay expected to increase
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POSTED: Tuesday, July 16, 2013 - 7:54am

UPDATED: Monday, November 18, 2013 - 11:22am

Pay raises next year will only be slightly more generous than they have been over the past few years, that's the finding of a new survey by consulting firm Mercer.

Employers anticipate increasing worker salaries by an average of two-point-nine percent in 20-14. That's just marginally better than the two-point-eight percent boost they gave this year, according to Mercer. However, that is a big improvement from 2009, when raises averaged two-point-one percent.

Mercer says part of the downward pressure on salaries comes from relatively high unemployment, meaning employers still have the upper hand in recruiting new workers.

Mercer's survey reflects the pay practices of companies that employ more than 13 million workers combined.

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