Employers More Optimistic About Wage Increases
TORONTO - February 22, 2017
40% Predict Rising Wages - Only 1% See Wages Declining
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Express Employment Professionals released new survey results today revealing employers' predictions for wage growth throughout the next three months.
In a survey of 1,951 businesses, respondents were asked, "Over the next three months, do you expect wages in your market to increase, decrease, or stay the same?"
Forty per cent predicted wages would increase, with 59 per cent saying they would stay the same. Only 1 per cent believe wages will decrease.
This is the highest percentage of respondents in the past year predicting an increase based on quarterly surveys conducted by Express.
"Too many working families have gone too long without seeing rising wages, so this is welcome news and a trend we hope continues," said Bob Funk, CEO and chairman of the board of Express. "The best way to grow wages for everyone is to have robust economic growth. Clearly, there are still many areas of North America where wages are stagnant and we have a way to go on the growth front. But this survey, coupled with the increased optimism and other positive wage trend lines, indicates better days may be ahead."
The survey of 1,951 businesses, which are current and former clients of Express Employment Professionals, covers hiring trends for the first quarter of 2017.
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If you would like to arrange for an interview with Bob Funk to discuss this topic, please contact Kellie Major at (613) 222-7488.
About Robert A. Funk
Robert A. "Bob" Funk is chairman and chief executive officer of Express Employment Professionals. Headquartered in Oklahoma City, the international staffing company has franchises in the U.S., Canada and South Africa. Under his leadership, Express has put more than 6 million people to work worldwide. Funk served as the Chairman of the Federal Reserve Bank of Kansas City and was also the Chairman of the Conference of Chairmen of the Federal Reserve.