In January, the most recent month that BLS released, wages soared even higher than economists were forecasting. Average hourly earnings across the economy reached $31.63, marking a 5.7% rise from the year before.
"The overarching story again is that wage growth is still strong as a result of the competition that employers are facing for workers," Daniel Zhao, a senior economist at Glassdoor,The report also shows what businesses paid bonuses to current or incoming employees, as well as extra pay given. According to, 5.5% of establishments"temporarily paid a wage premium/extra hourly amount for working during the pandemic.
Additionally, 2.4% of establishments paid signing bonuses to new workers, 4.5% of businesses paid current workers a bonus for referring people to apply, and 9.4% of private-sector establishments paid"one-time special monetary awards/appreciation bonuses for working during the pandemic." Those numbers are far lower than businesses who opted to raise wages altogether, suggesting that a more permanent increase was better at attracting workers.
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