1. Why Wages Are Growing Rapidly Now— And Will Continue to in the Future
- Author:
- Gad Levanon and Frank Steemers
- Publication Date:
- 07-2021
- Content Type:
- Special Report
- Institution:
- The Conference Board
- Abstract:
- In the first half of 2021, wages grew at the fastest pace in over 20 years. The sudden surge is likely to challenge organizations in recruitment, retention, and compensation strategies in the near term—and over the next decade. Wage growth in the US through 2022 and beyond fits into three distinct phases: 1) strong wage growth in the spring and summer of 2021; 2) moderating wage growth by late 2021 and during 2022; and 3) renewed acceleration of wages in 2023 and beyond, most notably in blue-collar and manual services.
- Topic:
- Economics, Labor Issues, Business, and Wage Growth
- Political Geography:
- United States of America