The high demand for workers and ongoing worries about inflation means that a strong majority of employers will keep next year's salary increases similar to this year, with data showing pay increases at 4% on average for 2023, according to a new report from Payscale.
Payscale found that 78% of organizations in the U.S. and 81% in Canada say they've set their salary increase budget the same or higher for 2024. Payscale's prediction for 2023 was originally a 3.8% increase in average wages in the U.S. for this year, but a resilient economy may have resulted in more competition for wages.
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