It's a great time to be in the work force.
With the labor market tight and companies increasingly competing to attract and retain qualified workers, 58 percent of employers plan to give out raises by the end of 2018, according to a report released Friday by CareerBuilder. Pay bumps will be 5 percent or more at 24 percent of companies, the survey found.
The mid-year forecast from the employment-focused website also shows good news for job seekers: Nearly two-thirds of U.S. employers (63 percent) plan to hire full-time workers in the second half of 2018, up from 60 percent a year ago. Additionally, 45 percent of companies plan to increase starting salaries.
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"Employees are really owning the market and in a position to negotiate," said Irina Novoselsky, president and COO of CareerBuilder.
The report includes data from online surveys conducted this summer of more than 1,000 hiring managers and more than 1,000 full-time workers across a variety of industries and company sizes.
Unemployment was 3.9 percent percent in July, according to the latest jobs report released Friday.
While low unemployment is good news for the economy, it means companies struggle to fill positions as the pool of available workers shrinks.
Extra perks from companies that are hiring Casual dress code 36 percent Employee discounts 31 percent Ability to work remotely 25 percent Extra paid time off 22 percent Signing bonus 21 percent Free lunches 14 percent Gym memberships 12 percent Work from Home Fridays 10 percent Day care 8 percentSource: CareerBuilder 2018 mid-year job forecast
