Published in The Wall Street Journal July 21,2009 by Michael Sanserino
Recession-starved employee salaries have scarcely grown this year, and early predictions for 2010 aren’t looking much better.
Two surveys to be released Tuesday found employers have increased salaries this year by the smallest percentage in decades.
Human-resource consultants Watson Wyatt Worldwide Inc. and Hay Group estimate that median pay raises for 2009 ranged between 2% and 3%. The U.S. Labor Department says pay for the average worker increased 2.2% in the year ended March 31, down from 3.2% in the year-earlier 12-month period.