Raises Likely to Be Few and Small Next Year: Many American workers will not get raises in the coming year and those who do can expect a smaller increase as their bosses try to hold the line on rising expenses, a national survey reported. Twenty-one percent of U.S. companies surveyed will not give some employee groups annual salary raises in 1994, up from 14% this year, according to the consulting firm William M. Mercer Inc. The nationwide annual survey was based on data from 2,700 large employers with a combined payroll of 9.4 million workers. Employees who survive the latest round of layoffs in any industry can expect a continued shrinkage in the size of average salary increases, projected to be 4.5% in 1994, down from 4.6% in 1993, according to the survey.
From Times Staff and Wire Reports