Personal Finance

Just half of Americans got a raise this year

Low wage workers and supporters protest for a $15 an hour minimum wage.
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Nearly half of working Americans said their pay increased over the past 12 months, according to a new study by

The other half were not so lucky.

Of those making more money compared with a year ago, about 37 percent received a raise while nearly 12 percent found a better paying job, Bankrate said.

Among the raises, 52 percent were from performance-based increases, nearly a third were cost-of-living adjustments and 10 percent were promotions, the report said.

Those that didn't get a raise or promotion in the last year skewed toward less-educated workers, part-time employees and those ages 62 and up, according to the report.

"As with the just-completed election, the apparent divide among Americans includes wages," said Mark Hamrick, Bankrate's senior economic analyst.

Despite steady personal income and wage gains, those gains have not been felt across the board, Hamrick said.

"We have been given repeated reminders about the economic division in our country, and this is another aspect of that," he said.

Bankrate polled 1,000 adults between November from 3 to 6, 2016.