2005 US Salary Hikes Forecast at 3.7%

May 20, 2005 (PLANSPONSOR.com) - US worker salaries for 2005 will continue on the upswing for the second straight year after three years of compensation declines, a new report indicated.

A report from employment site CareerJournal.com indicated that US workers can expect a 3.7% pay hike this year – up slightly from the 3.6% increase seen in 2004. The 2005 increase will mean an extra $24.19/week for a worker making $34,000 annually, while those with a salary of $100,000 can expect an increase of $71.15 per week, according to the report.

Average domestic salary increases bottomed out at a five-year low of 3.4% in 2003, after hitting a five-year high of 4.4% in 2001. “We are in the early stages of an upswing,” Tony Lee, publisher, CareerJournal.com said in a news release. “The projected salary increases for this year are a ray of sunshine following several years of salary freezes and layoffs.”

For more information, visit http://www.CareerJournal.com .