Reported 12 months ago
Annual wage increases for American workers staying in the same job reached the slowest rate in nearly three years in June, according to ADP data. Even job changers experienced a decline in wage growth, marking the third consecutive month of decrease. The data suggests a shift in the labor market dynamics, with job stayer growth declining and the possibility of returning to pre-pandemic levels being challenged. Despite this, wage growth for job switchers remains elevated, indicating some tightness in the labor market amidst signs of overall labor market cooling without rapid contraction.
Source: YAHOO