Despite economic growth and continued low unemployment, a report from the American Society of Employers shows that Michigan employers are budgeting for employee pay raises of 3% in 2017, a number that has remained constant for several years.
Vice President of ASE Kevin Mars says the economy is still in a position of low inflation.
“There hasn't been, arguably, a lot of pressure on employers to raise salaries. However, us as Employers' Association, are looking at the current state of unemployment to see what pressure that places on employers to increase salaries.”
The report also states that wage freezes remain low with only 4% of employers anticipating a wage or salary freeze in 2017.