Where did your pay raise go? It may have become a bonus

Source: Patricia Cohen - N.Y. Times (Paid Registration)

The recent stock market rumpus has been set off in part by fears that a tight labor market and quickening wage growth are a foretaste of higher inflation and interest rates. But sustained raises for American workers may be possible only if employers can break a habit: handing out one-time bonuses in place of salary increases.

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