Average Wage Increase 2024. According to information from the bureau of labor statistics, the annual mean wage for workers in 2024 depends largely on their age and experience level in the workforce. Employers report an actual average salary increase of 4.4% in 2023 during a year when bls reported annual inflation of 3.1%.
However, increase budgets are easing back to around 5.0% in 2024 as compensation and hr professionals. For an nlw worker working 37.5 hours per week, the increases announced today will increase their annual pay by.