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Half of Small Businesses Raised Wages in January

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Feb. 4, 2022—Half of small businesses raised wages in January to lure workers, Bloomberg News reported. 

Based on findings from the National Federation of Independent Business, a record 50 percent of small business owners said they raised compensation as 47 percent of the same business owners said they had job openings they could not fill. 

Over a quarter of small businesses plan to raise compensation in the next three months, the report said. 

The share of firms that raised compensation was the largest in monthly data back to 1986 and up two points from December.

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