Salary Raises Don’t Even Keep Up With Cost Of Living Increase
If you’re one of the chosen few to get a raise this year, odds are that it didn’t even keep up with the cost of living increase. And here’s another news flash. A new survey says that we can expect another year of “modest” raises in 2012. On average, salaries increased by only 2.6% this year and most companies are planning only a 2.8% salary increase for workers in 2012. Course, that’s only for workers who will see “any” increase as most will probably have to bite the bullet again and live on their current wage. The killing part, whether you get a raise or not, is that in the previous 12 months going through July, the government said prices for consumers have risen 3.6%. So, even if you get a raise, you’re still losing money. Tough pill to swallow, but I guess the silver lining on this cloud is that it eliminates the need for some stressful decisions; like choosing a new car, trying to buy a house, name brand or generic, or put braces on Junior’s teeth. Who wants to think about that stuff anyway?