U.s. employers anticipate 2024 pay raises to remain high as labor market challenges remain, wtw survey finds

Arlington, va., june 29, 2023 (globe newswire) -- salary budgets for u.s. employees are expected to remain high in 2024 as employers become accustomed to ongoing labor market challenges. according to the latest salary budget planning survey by wtw (nasdaq: wtw), a leading global advisory, broking and solutions company, organizations are budgeting an average increase of 4.0% in 2024. though down from the actual increase of 4.4% in 2023, the numbers remain higher than the 3.1% salary increase budget in 2021 and years prior.
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