Reported 3 months ago
In July, wage growth for job switchers dropped to 7.2%, down from 7.7% in June, while those who remained in their positions saw pay increase by 4.8%, the slowest rise since July 2021. This narrowing pay gap indicates diminishing returns for workers changing jobs in a cooling labor market, where job openings and worker confidence have also decreased. Although less attractive for job changers, the slowing wage growth could help the Federal Reserve's efforts to combat inflation.
Source: YAHOO