Pay raises on the way for 58 percent of workers before year-end

It’s a great time to be in the work force.

With the labor market tight and companies increasingly competing to attract and retain qualified workers, 58 percent of employers plan to give out raises by the end of 2018, according to a report released Friday by CareerBuilder. Pay bumps will be 5 percent or more at 24 percent of companies, the survey found.

The mid-year forecast from the employment-focused website also shows good news for job seekers: Nearly two-thirds of U.S. employers (63 percent) plan to hire full-time workers in the second half of 2018, up from 60 percent a year ago. Additionally, 45 percent of companies plan to increase starting salaries.

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