Fewer American workers are receiving raises these days — and those raises are smaller than they used to be. That's one of the main takeaways from a new study of 1,500 adults examining worker sentiment regarding compensation and benefits.

Released by the cloud-hosted human resources platform BambooHR, the report found that 2 in 5 salaried employees (41%) didn't receive raises in the past year — up from 33% not receiving raises in 2022. Those who did get raises saw a 25% decrease from previous raise amounts, underscoring the economy's impact on employee pay in the past year.

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