Private sector employees shouldn’t expect much in the way of wage increases in the coming months, according to an analysis by the Bureau of National Affairs (BNA).
The private publisher said wage expectations have been falling for two years now. “Any time you have an unemployment rate near 10 percent,” said economic consultant Kathryn Kobe, “there’s still a lot of excess labor capacity.”
In the coming months, according to BNA, the pace of wage growth for workers in the private sector is expected to remain at or below 2009’s increase of 1.4 percent. That was the smallest 12-month rise on record since at least 1979.
The survey did not compare anticipated wage increases in union vs. nonunion settings.