The share of U.S. companies raising wages more than doubled in the three months to July from a year ago, a survey showed on Monday, suggesting a faster pace of wage growth.
The National Association for Business Economics' (NABE) latest business conditions survey found that 43 percent of the 79 economists who participated said their firms had increased wages. That compared to only 19 percent last year and marked an increase from 35 percent in the three months to April.
"For the third survey in a row, an increasing share of panelists reported rising wage costs last quarter," said NABE President Jack Kleinhenz, who is also chief economist at the National Retail Federation.
It was the first time since October 2012 that no respondents reported declining wages at their firms. The economists represented a broad spectrum of businesses, including goods-producing, transportation, finance and services industries.