KRIS 6 News: Workers' pay increasing, but rising prices negate gains

Posted at 11:50 AM, Oct 29, 2021 and last updated 11:51 AM, Oct 29, 2021

A growing number of businesses are reporting they are having to pay workers more.

A new survey from the National Association for Business Economics found a record 58% of businesses had to increase workers' pay this month.

But, experts say this situation will eventually sort itself out.

"In about eight to 10 months, this will all calm down," said Kishore Kulkarni, an economics professor at Metropolitan State University of Denver. "But for this holiday season looks like a season which is unprecedented and that we will have a tremendous demand for labor."