Money Matters

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If your wallet has been feeling lighter, you’re not alone: Salary increases this year have fallen from 4 percent in 2002 to 3.5 percent—the smallest uptick in a decade, according to a June report from the Conference Board.

As the economy continues to sputter, businesses are increasingly cautious about doling out raises, says Charles Peck, a compensation specialist for the New York-based Board, which measures economic data. Still, valued workers get compensated in other ways. “Rather than lock in a fixed, permanent expense in the form of a raise,” he says, “employers are relying on bonuses, which are one-time and tied to productivity.”

If that doesn’t provide much solace, here’s some perspective: In 1975, when wages jumped an average of 10 percent, Peck notes, inflation was running at 12 percent.



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