How to ask for a raise when companies are desperate for workers

The hike in salaries, however, comes as the cost of living is on a sharp rise, with consumer prices up 5.4 percent compared with a year ago, according to the Bureau of Labor Statistics. Experts say no raise or a minimal bump that doesn’t meet the cost of living is unrealistic, especially given the number of openings. As of the end of August, 10.4 million jobs were unfilled.