This year is shaping up to be the year of the pay raise, according to The Washington Post.
In the past three months, rank-and-file employees have seen some of the fastest wage growth since the early 1980s, as employers desperate to get workers back into restaurants, ballparks and plants are offering perks such as more time off, free food and higher pay to entice them to return.
The pay hikes are reflected in the latest jobs report, which showed that the U.S. economy added 850,000 jobs in June, the strongest gain since last summer. Much of the hiring occurred in the restaurant, hotel and entertainment sectors that have seen the fastest wage gains.
Average pay for hourly workers at restaurants, hotels and entertainment venues jumped 2.3% in June alone. That’s the kind of increase that typically occurs over the course of a year. Instead, it happened in a month. Pay is up more than 6%in the past three months, rising nearly $1 to $16.21 an hour for workers who aren’t managers. Read the full story.