SPOKANE, Wash. - There's good news from economists, and it could be beneficial for your paycheck. If you've been thinking about asking for a raise, now may be the best time. Economists say you're more likely to get one this year.
That's according to a survey by the National Association for Business Economics. They poll economists from a variety of different industries. And this year, the results look promising.
The poll found that 43% said their firms have given pay bumps in the last three months. That's up from only 19% last year.
And the news gets better. None of the economists surveyed reported pay cuts. Plus, one third of them expected raises in the near future.
Of course, not everything about the study was positive.
The biggest problem economists are seeing right now is wages have not been keeping up with inflation.
Real wages were lower in may than they were a year ago, down a tenth of a percent. And that's a big concern for the Federal Reserve.
Federal Reserve Chair Janet Yellen said last month she wanted to see wags rebound faster than inflation.
She says if Americans don't start experiencing more meaningful bumps in their take-home pay, that could hurt consumer spending. Consumer spending drives two thirds of economic activity in the U.S.
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