Jobs
Compensation Plans at US Small Firms Decline to Three-Year Low
This article is for subscribers only.
The share of US small-business owners planning to raise worker compensation fell in May to a more than three-year low, indicative of a cooling jobs market and moderating wage pressures.
Some 18% of firms said they intend to boost pay in the next three months, down 3 percentage points from April and the smallest share since March 2021, according to data out Thursday from the National Federation of Independent Business. A net 37% said they raised compensation, down slightly from the prior month but still historically elevated.