Reported 11 months ago
As the job market cools, a new trend emerges where lower-wage workers earning less than $55,000 are seeing an increase in hiring rates, surpassing pre-pandemic levels, while middle and higher earners face a decrease. Data from Vanguard Group reveals a divergent hiring trend, with lower-wage industries experiencing high demand, reflecting a healthy economy. Sectors such as healthcare and manufacturing are particularly hiring in lower-wage occupations, contributing to overall job growth amidst labor shortages. On the other hand, higher-paying fields are witnessing a slowdown in hiring, possibly due to lower attrition rates and cost control measures by employers amid uncertain economic conditions.
Source: YAHOO