OTHER NEWS - May 17, 1996

Survey Finds U.S. Salary Increases to Stay Low: Company budgets for employee salary increases will remain at record lows this year and next, according to the Conference Board’s annual salary survey. Pay increases for both executive and nonexecutive salaried employees in all industries will average 4% this year and in 1997, the survey found. “While many companies say they will be increasing their work forces this year, they will continue to maintain rigorous cost control,” said Charles Peck, compensation specialist at the Conference Board, a private business group. The board said its annual survey collects responses from 741 companies in all major industries.