(Bloomberg) -- Apple Inc. is raising salaries for workers in the US to combat rising inflation in a tightening labor market.

Apple is expanding its overall compensation budget this year, the company said in a statement. It will hike starting pay for its hourly staff to $22 or more, up 45% from 2018.

The increases were first reported by the Wall Street Journal. US tech companies are battling a shortage of talent after many workers chose flexible options or left the workforce during the pandemic.

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