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October 24, 2008
Are Employers Revising Pay Budgets for 2009?

Business & Legal Reports (BLR) is conducting a survey to find out how many employers are readjusting their pay budgets for 2009 in light of the recent decline in the national economy and the uncertainty of when conditions will improve. You can access the survey below.

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When BLR asked employers about their pay budgets in late June 2008, the results indicated the average planned merit increase was 3.71 percent, up slightly from actual increases of 3.67 percent in 2007.

However, economic conditions have changed dramatically since that time. If the headlines are true, the clouds seem to be darkening in many corners of the economy these days. Therefore, BLR is conducting the short survey to see whether employers have adjusted their 2009 pay-budget plans to reflect new economic conditions.

The survey will give a glimpse of how employers are balancing the challenge of facing tougher economic conditions with their long-term interests of developing and retaining a highly productive workforce that will help them compete successfully now and in the future.

BLR will report the results October 31, 2008.

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