In 2023, President Biden signed an executive order that would give federal employees a 4.6% pay raise in 2024. The raise is intended to keep pace with inflation and ensure that federal employees are fairly compensated for their work. The raise will affect approximately 2.1 million federal employees, including those working in the military.
The pay raise is the largest given to federal employees since 2002. It is also the first time that federal employees have received a pay raise that is higher than the rate of inflation since 2001. The raise is expected to cost the government approximately $30 billion over the next five years.
