Workers could see wages increase this year - KAIT-Jonesboro, AR-News, weather, sports

Workers could see wages increase this year

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A survey by economists show employers have more money in the bank. (Source: CNN) A survey by economists show employers have more money in the bank. (Source: CNN)

(CNN) - Now might be the time to ask for a raise. Economists say you're more likely to get one this year.

That's according to a survey by the National Association for Business Economics, who polled economists representing a variety of industries.

In all, 43 percent say their firms have given pay bumps in the last three months. That's up from 19 percent from last year. 

And the news gets better.

None of the economists surveyed reported pay cuts, and a third expect raises in the near future. 

The survey is certainly encouraging, but keep in mind, wages have not been keeping up with inflation. Real wages were actually lower in May than they were a year ago.

That has been a real concern for the Federal Reserve.

Federal Reserve Chair Janet Yellen said last month she wants to see wages rebound faster than inflation.

She says if Americans don't start experiencing more meaningful bumps in their take-home pay, that could hurt consumer spending. And consumer spending drives two-thirds of economic activity in the U.S.

Copyright 2014 CNN. All rights reserved.

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