A wage hike refers to an increase in the amount of money that employees receive as compensation for their work. This can be due to various reasons such as inflation, changes in minimum wage laws or collective bargaining agreements between employers and workers. A wage hike is generally seen as a positive development for employees as it means they will have more disposable income to spend on goods and services, which can help boost the economy. However, it may also lead to increased costs for businesses, who may need to adjust their pricing or find ways to offset these additional expenses.