Wage inflation will remain as long as there is demand for workers, says TriNet CEO
Salaries will have to increase to attract and retain employees to keep up with wage inflation, says TriNet CEO
TriNet CEO and President Burton Goldfield discusses wage inflation in America.
During an interview on "Mornings with Maria" TriNet CEO Burton Goldfield said that as long as there is demand for workers, there will be wage inflation, and companies will need to start increasing salaries to retain and attract employees.
US ECONOMY SEES HEALTHY JOB GROWTH IN APRIL AS PAYROLLS JUMP BY 428,000
The financial services industry saw the highest wage increases year-over-year. (iStock / Fox News)
BURTON GOLDFIELD: The highest wage increases were in financial services year-over-year. But the fact is that as long as the demand is there, you're going to see some wage inflation. And I don't see the demand slowing. So with the 23,000 companies we're serving, the 600,000 employees, there's still a great demand for new people. And frankly, as you talk about, there's going to have to be increased salaries to attract and retain those employees.
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TriNet CEO and President Burton Goldfield discusses the state of small businesses, hiring and wage inflation in the U.S.