Many employers keep pay rates quiet

BISMARCK, N.D. (KFYR) - Most workers will tell you the most important consideration when they look for a new job is compensation – in the form of benefits, but especially pay. And most businesses still hold their cards close to the vest.

A recent report from CNN Business says only about 12 percent of job postings from U.S. online job sites include a salary range. That’s up from eight percent in 2019, but still means 78 percent of companies do not.

Labor costs are a major expense and employers naturally want to pay less if they can. Also, current employees will see the higher wages and demand a pay raise.

Economists say things are changing, though, as the job market remains tight and recruiting employees is challenging.