Where is My Raise? Professor Sherry Jarrell Discusses Salaries on WFMY News 2

10.29.2011 Faculty News, General, Multimedia

WFMY News 2 | by Mac Ingraham
Reposted from digtriad.com


WFMY NEWS 2 — The Dow is on track for a record month and unemployment is down in 92 out of the 100 counties in the state.

So, you have to ask if the economy is slowly getting better, "Why isn't my salary?"

Triad economists say you don't have to look farther than the unemployment line.

Until more people become re-employed, Wake Forest University Professor of Finance and Economics Sherry Jarrell said current workers won't start to see their salaries increase.

"There are several people out there waiting to take your job at your current salary or less so you really can't expect to get a raise," said Jarrell.

The economic improvement isn't as strong as businesses like. So, the wait to reward workers continues. Not the news many overworked employees want to hear.

"Businesses rightfully expect things to become more oppressive, more costly in the future. So, they have every incentive to get as much as they can out of their current workforce as possible," said Jarrell.

According to a Career Builder.com survey, only 21 percent of employers expect to increase their number of full-time employees in the last three months of this year.