PAY FOR JOB CHANGERS ROSE AT THE SLOWEST PACE IN MORE THAN 3 YEARS

Summary from the TLDR newsletter

The median year-over-year pay increase for job switchers has fallen and is now at its lowest growth rate since April 2021. The gap between pay gains for job changers and job stayers is at its narrowest since January and a far cry from the levels seen during the 2022-2023 'Great Resignation'. This indicates that the labor market is currently less dynamic. The slowdown could characterize the labor market data for the rest of 2024 as quits and layoffs remain low.