Business

Bigger Paychecks May Finally be in Store

Published

10 years ago

April 3, 2015

In this Thursday, Nov. 27, 2014, photo, a woman pays for merchandise at a Kohl's department store in Sherwood, Ark. Relying on credit for holiday shopping without a plan to pay off the debt quickly can easily cost you more in the long run. (AP Photo/Danny Johnston)

In this Thursday, Nov. 27, 2014, photo, a woman pays for merchandise at a Kohl’s department store in Sherwood, Ark. (AP Photo/Danny Johnston)

(CBS News) – Stagnant wage growth has been a persistent problem during the economic recovery, leading many to wonder when workers will again see bigger paychecks.

But at least employees are getting increasingly optimistic about receiving raises from their bosses, according to a new survey from employment site Glassdoor. It found 45 percent of employees say they expect to receive a pay raise or cost-of-living increase in the next 12 months, marking a six-year high.

While that might be wishful thinking on the part of employees, some evidence shows corporations might indeed be ready to give out raises. Eight out of 10 business owners are optimistic about their company’s prospects, while 40 percent plan to give raises, according to a study from PNC Financial Services Group that was released on Thursday.

“We have clearly seen that wages have lagged the recovery, but we also know in a supply-and-demand economy that they can’t lag forever,” Rusty Rueff, Glassdoor career and workplace expert, told CBS MoneyWatch. Employees “are seeing all this business activity, and that gets their confidence moving.”

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Join us for a LIVE Virtual Town Hall on the Impact of Racism hosted by Post News Group Journalist Carla Thomas and featuring Oakland, CA NAACP President Cynthia Adams & other Special Guests.
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November 12, 2024

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