Nick Novak Highlights Economic Survey Data on Green Bay’s FOX11

GREEN BAY – With high inflation and labor shortages, businesses across the country are looking for different ways to attract and retain employees.

According to a recent Wisconsin Manufacturers & Commerce survey, nearly half of responding Wisconsin businesses say they plan to raise wages by more than four percent this year.

WMC Vice President of Communications, Nick Novak, said businesses are trying to balance employee benefits with inflation.

“Roughly half of businesses in the state of Wisconsin are looking to raise wages by more than four percent, which is faster than we’ve ever seen in this survey before,” Novak said, “It’s honestly hard for businesses to compete with that because they just do not have the ability to magically raise wages beyond the revenue they’re bringing into the company.”

Watch the full segment at