U.S. Companies Expected to Increase Salaries in 2022

Businesses are likely to increase salaries budgets in 2022 by 3.9 percent according to a study by The Conference Board. Gad Levanon, head of the Labor Market Institute at The Conference Board, joined Cheddar to provide additional details about the survey's findings. He attributed the anticipated salary hikes to companies looking to retain current employees, a desire to attract a new crop of workers, and surging inflation.