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Are You Getting a Raise This Year? [AUDIO]

A new report suggests wages for many workers will be increasing later this year.

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Handing over money
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The USA TODAY survey, which polled 40 economists, predicts wage hikes in the 3 percent range for employees in many sectors because of positive economic growth, and increased demand for workers.

Dave Brogan, first vice president for economic development and taxation at the New Jersey Business and Industry Association, agrees with the assessment.

“Business confidence has improved dramatically over the past four years,” he said. “And in our Business Outlook survey where we poll our members, over half of the members polled expected increased sales, increased profits and increased wages.”

He said not everybody is going to be getting a salary bump, but “in a general sense we’ve been hearing some very positive results.”

Brogan stressed that confidence breeds optimism, and optimism breeds investment, leading to increased hiring across the board.

“I think you’re going to see increased economic activity for the next three quarters, and I also think you’re going to see continued and increased optimism,” Brogan said. “Those things together will spur the economy, and I think at the end of the day that’s going to be positive for New Jersey.”

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