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More bad news for American workers: Pay raises will be dismal next year

Don’t hold your breath for a bigger pay raise next year. Despite an improving economy and jobs situation, American employers are tightening their belts.

Pay raises for U.S. employees are not expected to improve next year, according to a survey released Monday by global professional services company Aon, based on a survey of over 1,000 companies. Base pay is expected to rise 3% in 2018, up slightly from 2.9% in 2017. Spending on variable pay — incentives or bonuses — will be 12.5% of payroll, low levels not seen since 2013. This suggests a “pessimistic view of corporate performance in the coming year,” Ken Abosch, a strategy and development analyst at Aon, said in a statement.

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