A record number of American companies had to pay higher wages during the first quarter of 2022 according to a survey conducted April 4–12 by the National Association of Business Economics (NABE).
Out of the 84 NABE members who took part in the April survey, 70 percent said that wages rose during the first quarter, up from 60 percent who answered the same way in January. This is the highest measure in the 40 years of the NABE survey’s history.
It’s also the fourth consecutive survey in which no respondents reported a decline in wages.
The survey comes as the Bureau of Labor Statistics reports that the average hourly earnings for U.S. employees grew by 0.4 percent in March on a monthly basis.
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