Here's what raises will be like this year, per a new survey

Emily Peck author ofAxios Markets / AXIOS

Companies expect to give out 4.5% raises this year — a dip from the 4.8% average bump given in 2023, per a new survey of human resources professionals out Wednesday morning.

Why it matters: It's another sign that the job market is cooling but still strong — raises will likely outpace inflation in 2024.

By the numbers: Just over 79% of companies plan on giving pay raises this year, the lowest since 2021 — and 6 points below 2019, according to Payscale, which has conducted this survey for the past 15 years.

• Payscale surveyed 5,735 HR leaders, compensation professionals and business owners from November to December 2023.
• About a third of respondents are in industries mostly comprised of blue-collar workers, who are seeing bigger raises.

Biden Breaks a Record Concerning US Embassies... But Not in a Good Way

Leah Barkoukis / Townhall Tipsheet

The Biden administration has made history, but not in a good way. During the president's tenure thus far, his administration has had to carry out more evacuations of U.S. embassies around the world than any other previous administration.

With Haiti descending into violent anarchy, nonessential U.S. embassy staff were evacuated by the Marine Corps on March 10. This effort marked the 11^th time a U.S. embassy has had to fully or partially evacuate on President Biden’s watch. 

Since Biden took office in January 2021, his State Department has partially or fully evacuated 11 U.S. embassies via what are known as authorized or ordered departure directives.

President Barack Obama presided over the second-most embassy evacuations of any administration with a total of eight over two terms (Egypt, Libya, Iraq, Syria, Yemen, Central African Republic, and South Sudan), or about one a year. Donald Trump presided over three partial evacuations in his four years as president.

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