According to the Society for Human Resources Management, for the first time in 3 years global wages are expected to rise in 2016. This is excellent news for workers all across the world as well as right here in the U.S. and Tampa, Florida. The wage increase could be as big as 2.5% in many areas. What is making this wage increase more effective is that inflation is expected to remain static, so the cost of living is not expected to increase. Let’s take a closer look at the details by region.

North America

It is expect that the inflation rate throughout the United States will remain static which will allow for workers to see around a three percent increase in their salaries in the coming year. The results will largely depend on the moves of the Federal Reserve this year. Canadian workers will see an increase as well but the interest rate is expected to increase, which will lower the overall raise potential.

Latin America

Countries in Latin America will expected continued instability over the next year. While wages will actually increase overall, the inflation that will affect these nations will mean that the workers will ultimately see a reduction in their overall wages. This will affect countries like Argentina and Brazil where workers should be seeing increases but will not receive the benefits of global wage increase due massive inflation increases.

Europe

The European Union continues to provide stability for countries under their influence. The United Kingdom and Germany will see the biggest benefits from wage increases this coming year. There is even a positive outlook in Greece, which has been plagued by economic and political turmoil over the last decade that has negatively impacted their country’s growth and wages. However, Russia and the Ukraine are not counted in the positive wage growth numbers due to political issues that complicate salaries in these nations.

Asia

The highest wage increase in the world will be seen in Asian countries. Adjusted for inflation, Asian workers will see over a four percent increase, which is the highest anywhere in the world. Vietnam will see the largest increase among Asian nations. While China’s economic growth will slow down slightly, their workers can still expect an increase in wages.

Africa and the Middle East

With political and cultural unrest in these nations there will be some uncertainty for workers. However, overall both Africa and the Middle Eastern nations will see growth in worker’s wages. Employees in the Middle East can expect about a five percent increase while African workers will see six and a half percent increases. The only country expected to see a decrease in wages is Egypt which will experience high inflation in 2016.

Looking for a New Job in Tampa, Florida?

Sure increasing wages around the world is an exciting topic to discuss, but what about Tampa, Florida specifically? If you’re looking for a great new opportunity with a great salary to go with it, then contact the experienced recruiters at StaffEx for additional support with your career growth in 2016.