Third-quarter wage growth in the United States increased 3.3 percent, in line with growth in the months before the COVID-19 pandemic, while wage growth for job switchers increased 6.6 percent since September 2020 as employers sought to attract new workers with competitive compensation, according to the ADP Research Institute Workforce Vitality Report (WVR) released Oct. 27. Employment growth also increased by 4.1 percent year-over-year in September 2021, according to the report (pdf), with positive wage growth across almost all trade sectors including professional services and construction, which lead the way. The information sector reported no net change in employment, while the leisure and hospitality industry, one of the hardest-hit by the pandemic, experienced the biggest gain with 15 percent employment growth as it slowly recovers from hefty layoffs. By firm size, employees from mid- to large-size firms saw higher wage growth than those employed at small businesses. Among those switching jobs, females did so at a higher …
Wage Growth for Job Switchers Increases 6.6 Percent in a Year, Outpacing Jobholders: Report
November 4, 2021
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