Reported 4 months ago
New data from ADP indicates that in May, the pay gap between job stayers and job changers in the US narrowed, with the median year-over-year pay increase for job switchers declining to 7.8%, from 8.3% in March and 8% in April. This trend signifies a cooling labor market, with fewer people leaving their jobs for higher pay as companies shift focus towards retaining and training workers rather than recruiting. Job openings hit a three-year low in April, marking signs of labor market stabilization.
Source: YAHOO