The good economic numbers we have seen under President Trump are leading to more cash in your pocket, and there may be even more of that down the road.
According to Career Builder research 58 percent of employers plan to give their workers pay raises. Those raises would be in the neighborhood of five percent. Patrick Jankowski with the Greater Houston partnership tells KTRH why this is happening.
“We are at a point right now of very low unemployment. The law of supply and demand is kicking in. When there are fewer workers out there, it means employers will have to increase wages to find those workers,” Jankowski explained.
That survey was done nationally. What about right here at home in Houston? Will we see the same thing here?
“It depends upon the industry and job. The energy industry is still struggling on the exploration side a little bit. There are shortages of workers in other areas. There are always shortages of workers in healthcare. I can’t say across the board there are pressures on wages, but in certain sectors there are,” Jankowski said.
Not only does Career Builder say that current employees will be getting raises, but they also say 45% of employers plan to offer higher starting salaries in order to attract new talent.