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Anxiety about the economy forcing U.S. employers to yank budgets for raises
Inflation rose by 2.7% in June, reaching its highest level since February.
Inflation rose by 2.7% in June, reaching its highest level since February, and the Trump administration recently imposed sweeping tariffs on trade partners, potentially hampering businesses’ appetite for hiring and raising worker wages. These tough economic conditions have the potential to affect workers, too, noted Ruth Thomas, chief compensation strategist with Payscale. When navigating discussions with employees who are seeing lower pay raises than previous years, Thomas recommended “setting the economic context for them,” and explaining how industry trends affect compensation budgets.
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