Australian workers can expect to see their pay packets growing faster than consumer prices by early next year. An improvement in real wages, which accounts for the corroding effect of inflation on pay increases, was previously earmarked for midway through 2024. Thanks to surging inflation, workers have been hit with staggering declines in real wages….

Payroll for federal employees is expected to surpass $55 billion this year, according to a report by the Parliamentary Budget Office (PBO). Published on Nov. 18, the report, titled “Supplementary Estimates (B),” says hiring of public servants has been on the rise in the past seven years. “Government spending on public servant salaries and benefits…

Employees in the United States are expected to see a 16-year high salary hike next year as companies react to a tight labor market and inflation, according to a recent report by workplace consultant Willis Towers Watson (WTW). Pay budgets at companies have risen by 4.2 percent in 2022, stated a WTW press release on Nov. 17….

Major U.S. banks are seeing operating expenses rise as employee wages, along with bonuses and compensations, go up in a tight Omicron-tainted labor market where companies struggle to hire and retain workers. Investment bank Goldman Sachs was forced to increase compensation and benefits to hold on to their staff, leading to a 23 percent surge…

Canada’s labour market surge and drop in unemployment over the past few months have driven up wages, which in turn could bring negative economic impacts like higher inflation, lower productivity, and increased cost of labour per unit of output, a prominent economist warns. In November 2021, as Canada’s labour market continued its return to something…

Companies in the United States plan to give employees the biggest wage increase in more than a decade next year, according to the Conference Board report released Wednesday. Businesses are foreshadowed to increase pay by an average of 3.9 percent in 2022, marking the highest rate increase since 2008, and up 0.9 percent from the reported figure…

A Tyson Foods plant has begun to offer employees 36 hours’ worth of payment for 27 hours’ work, in a move that shows how employers are struggling to retain employees. “I don’t know of anybody else doing this,” said Albert Gonzalez, human resources manager for Tyson’s poultry processing plants, to LancasterOnline. “I’ve heard of four…