Raises to average 3.5 percent in '06

NEW YORK, June 22 (UPI) -- Pay increases for most salaried U.S. workers will average only 3.5 percent this year and stay at that level through 2007.

The Conference Board said Thursday for the fourth straight month, salary increases are below 4 percent as employers keep the lid on budgets.

Moderate inflation has allowed employers to continue to control payroll costs," says Charles Peck, compensation specialist at The Conference Board.

"This continued control is reflected in the pattern of salary increase budgets this year compared with last year's projections."