The White House has long said that corporate tax cuts will trickle down to American workers and pad their paychecks. Then, as if on cue, just as Congress passed a bill to enact them, a handful of companies announced employee bonuses they said were proof of that.
But those one-time bumps, whatever really precipitated them, don’t mean higher wages are around the corner. Even the White House said it could take eight years for the cuts to boost wages much. And for now, employers are in no hurry to raise them.
For the past five years straight, employers have reported giving 3 percent raises to most workers—even as the economy has improved, the labor market has tightened, and unemployment has fallen. Only stellar performers get bigger bumps.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.