More than Half of Americans Did Not Get a Raise This Year

More than Half of Americans Did Not Get a Raise This Year

Even though unemployment sits near historic lows, many workers have not seen any benefit from the strong job market. In fact, more than half of all American workers (52%) did not get a raise over the past 12 months, according to a new survey from Bankrate.

And the numbers are actually worse than they look, because in reality only 38% of workers saw their pay increased at their current job. Another 18%, which includes 8% of those surveyed who also got a raise from their previous employer, saw their wages go up when they got a new job.

For older workers, the numbers are even worse. Nearly two-thirds of those aged 53 and up did not get a raise at their current job or get a new job that pays better over the past 12 months. That compares to a 47% rate among workers younger than 53.

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Source: Fool.com