Wages increasing for retail workers
January 3, 2022
Wages increasing for retail workers
In 2022, wages are projected to increase by 3.1 percent for non-exempt retail and customer service employees, according to the compensation management company Payscale.
More than half of companies surveyed said their 2022 salary increase budget is expected to be higher than 2021, pointing to improved economic conditions and competition for labor as the top reasons.
Payscale stated that companies “must balance attracting new employees and retaining current ones, as tight labor market conditions and rising inflationary pressures cause employees to re-evaluate their current compensation packages.”
