QoD: What percent of Americans got a raise in 2019?
Answer: About 50%
Marketplace audio (1:27):
- According to the audio, the last decade was the first that didn't have a __________________.
- What was the average pay increase across all workers?
- While 1/2 of workers may not have received a pay increase, what are other ways that companies may have helped their employees other than raising their pay?
- What can you do as a worker to increase the chances that you get a pay increase?
Behind the numbers (Marketplace):
Unemployment is at rock bottom and the job market is thriving. But American workers’ pay has been stuck at a middling annual growth rate of about 3%. And according to one survey, about half of working Americans aren’t seeing any pay hike this year. Of those who did receive a bump in pay, roughly 25% achieved that by taking a different job. “Wage growth for folks who switch jobs is much higher,” said Nick Bunker, an economist with Indeed.
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About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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