Reported 27 days ago
Recent data shows American workers are experiencing lower pay increases when switching jobs, with the median year-over-year pay hike for job changers dropping to 6.2% in October, far below the 16.4% observed during the pandemic recovery. The gap between pay gains for job switchers and those who stay in their positions has narrowed significantly, leading economists to suggest that job switching is becoming less profitable for workers, contributing to decreased turnover in the labor market.
Source: YAHOO