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  2. 4.1%
    • According to 3 sources
    In another sign of a tight labor market, U.S. companies plan to give workers their largest pay bump in 15 years in 2023, with an average hike of 4.1%. That’s the finding from a new survey by Willis Towers Watson, a compensation consulting firm, which polled 1,430 employers in April and May.
    U.S. companies facing a tight labor market, high turnover and the biggest price pressures in 40 years plan in 2023 to raise worker pay on average by 4.1% — the largest increase in 15 years, according to Willis Towers Watson (WTW).
    US employers say they expect the average raise to be 4.1% in 2023, which would be the largest hike in 15 years, according to a survey of more than 1,400 organizations from advisory firm Willis Towers Watson. But that extra money may not go far. That 4.1% is less than half the headline rate of inflation.
     
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