A business growth consultant thinks that 2022 will mean higher wages and possible raises for many employees nationwide. Stephen Semple wrote Raising Prices, and says the reason he expects wages to go up is pretty simple.
"There is, in many sectors of the economy, a shortage of workers," says Semple. "Companies are having a hard time finding people, they have numerous positions unfilled, and if they want to grow, they need to find those people. To find those people, they're needing to go out and offer higher wages."
Semple agrees that rising wages could add to inflation woes.
"Wages go up, prices go up. They can start driving wages up. Inflation can be a very vicious cycle," says Semple.
Semple also offered some advice to people seeking a raise, and pointed out, "if you're a good employee, you're hard to replace."
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