Only slight pay increases seen in 2005
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Base salary increases remained at record lows this year, and only slight improvement is forecast for 2005. That&#39;s according to the latest annual survey from Hewitt Associates, which shows pay-for-performance programs maintaining popularity.
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The Senate voted overwhelmingly today to increase the federal minimum wage for the first time in nearly a decade, but added tax breaks for small businesses that are unacceptable to House leaders, preventing Democrats from claiming a quick victory on one of their top legislative priorities.
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Microsoft CEO Steve Ballmer and Chairman Bill Gates each took home just over $900,000 in pay last year, a slight increase from last year, according to documents filed Monday with the Securities and Exchange Commission.
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About 1.8 million federal employees would receive a 1.7 percent increase in their basic pay and a 0.5 percent average increase in their locality pay next year under a plan that President Bush sent to Congress yesterday, administration officials said.
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It's a new year and there's a new pay policy at the Defense Department.
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The Senate voted overwhelmingly Thursday to boost the federal minimum wage by $2.10 to $7.25 an hour over two years, but packaged the increase with small business tax cuts and limits on corporate pay that could complicate its path to become law.
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The nation's lowest-paid workers will soon find extra money in their pockets as the minimum wage rises 70 cents to $5.85 an hour on Tuesday, the first increase in a decade.
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which jumped steeply the previous month - increased only modestly, official figures showed yesterday. Inflation
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The measure, which would raise the wage rate for the nationâs lowest paid workers to $7.25 an hour from $5.15, was attached to the Iraq spending bill.
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Employers added a  smaller-than-expected 121,000 new workers to their payrolls  last month, but the jobless rate stayed at a five-year low of  4.6 percent and average hourly earnings rose, the Labor  Department said on Friday.
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Almost half of organisations no longer offer their staff across-the-board annual pay rises, research suggests.
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U.S. employment costs rose a  slightly less-than-expected 0.7 percent in the fourth quarter  of 2004, as salaries and wages grew at their slowest rate in  nearly six years, a government report showed on Friday.
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U.S. employment costs rose a slightly less-than-expected 0.7 percent in the fourth quarter of 2004, as salaries and wages grew at their slowest rate in nearly six years, a government report showed on Friday.
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The dollar rose slightly in the first  trading session of 2005 on Monday, gaining more than a cent  from recent record lows against the euro as investor selling  paused ahead of U.S. economic data this week. However, analysts  said persistent imbalances in the U.S. economy will likely  continue to weigh on the dollar in 2005 after pushing the euro  up about 8 percent to record highs last year.
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Concerned that Congress is moving toward providing a 2.2 percent pay raise for the military next year, a leading veterans' group said that with troops fighting in Iraq and Afghanistan, this is not the time to skimp on a raise.
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Healthcare costs in employer-sponsored plans are expected to rise an average of 8 percent in 2005, the first time the increase has sunk to single digits in the last five years, a new survey said.
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Employers added 132,000 jobs last month, a moderate pace slightly above what forecasters were expecting.