As we approach 2017 global financial budgeting and compensation planning, it is timely once again to provide ERI readers with insight into compensation analytics by taking a look at a forecast for the world economy and its effect on 2017 salary increase budgeting.
Global growth continues, but at a sluggish pace that leaves the world economy more exposed to risks, says the IMF’s latest World Economic Outlook (WEO).
Growth in advanced economies is projected to remain modest at about 2%, according to the WEO.
Salary increases are projected to remain stable at 3.0% in the United States and Canada from 2016 to 2017.
Minimal change is also expected in unemployment over the same time period with Canada increasing slightly from 7.3% to 7.4%, and the United States decreasing from 4.9% to 4.8%.
