“Wage and salary increases are becoming more widespread, according to panelists in the January 2016 NABE Business Conditions Survey, even as sales growth and hiring at their firms flatten, and they trim their expectations for expansion in the overall economy,” says National Association of Business Economics (NABE) President Lisa Emsbo-Mattingly, director of research in the Global Asset Allocation division at Fidelity Investments.
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“Nearly half of respondents—the largest share in over a decade—say their firms had increased pay in the past 3 months, and an even higher share anticipates pay to go up in the first quarter of 2016,” adds Emsbo-Mattingly.
Employment highlights
Results from the survey that address employment include:
- Survey results reflect stable employment conditions. The net rising index (NRI)—the percentage of respondents reporting rising sales at their firms minus the percentage reporting falling sales—of 19 is unchanged from October 2015 Survey. However, there is great disparity among the sectors. The finance, insurance, and real estate (FIRE) and service sectors experienced widespread employment growth during the past 3 months whereas the goods-producing and transportation, utilities, information, and communication (TUIC) sectors reported more job losses than gains at their firms.