CBS News Anticipates a 4% Pay Rise for Workers in 2024, Signaling a Positive Shift in Remuneration Trend

199,000  

The U.S. jobs report for November 2023 reveals a gain of 199,000 payrolls, indicating a positive growth in employment. This rise in employment contributed to a decrease in the unemployment rate, which now stands at 3.7%. The data suggests a continued trend toward strengthening the labor market. 

4%   

As per the CBS News article, workers could see a 4% boost in their pay or salary in 2024, signaling optimism in economic conditions. Employers are contemplating this increase, aiming to enhance employee compensation and remain competitive in the labor market. The 4% figure reflects a positive shift in remuneration trends.  

49% 

According to the HR Dive article, 49% of workers reportedly left their previous jobs due to feelings of underappreciation. This high percentage highlights the significant impact that employee appreciation, or the lack thereof, can have on retention rates. Employers may need to address workplace appreciation to foster a more engaged and satisfied workforce. 

14.2% 

The Morning Consult survey reveals a decline in retirees' intentions to return to the workforce, with only 14.2% planning a comeback, down from 18.2% in February 2022. Notably, 60.5% of retirees now express an unwillingness to return to work under any circumstances, marking an increase from 48.1% in May 2022. Despite a temporary increase in retirees returning to work last year, the trend appears to be fading, influenced by factors such as high inflation and a stabilized job market.  

9% 

In November 2023, Morning Consult data shows a 9% drop in full-time workers since 2022, signaling a cooling labor market. Labor shortages are easing, impacting nominal wage growth, but workers remain confident in negotiating higher pay. The report notes a decline in U.S. employers offering benefits, especially in low-skill industries. Despite signs of cooling, the labor market retains some strength, reflected in workers' confidence and evolving employer practices.