MADISON – More business leaders in the state are planning to raise wages this year, according to the latest employer survey from Wisconsin Manufacturers and Commerce.
Thirty-four percent of surveyed businesses said they will be raising wages by more than 4 percent in 2022, marking an increase from the previous WMC survey conducted about six months ago. At that time, about one-fourth of respondents said they’d be raising wages in hopes of attracting talent. At this point last year, just 9 percent had planned to boost wages.
“Unfortunately we’re seeing this persistent workforce shortage that only seems to be getting worse,” WMC Vice President of Communications and Marketing Nick Novak said in an interview yesterday.
The winter survey found 88 percent of respondents are having trouble hiring, which is up slightly from the 86 percent of respondents in the summer survey. Because many companies are looking to expand but can’t find workers to fill positions, wages are being increased in hopes of attracting talent, Novak said.
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