WSJ: Job Seekers Hit Wall of Salary Deflation....Really?

[1srelluc]

https://archive.is/TYN3A

It used to pay to switch jobs. Now it doesn’t.

The salary difference between those who stay in their roles and those who change jobs has collapsed to its lowest level in 10 years, according to the latest federal data.

Job stayers increased their wages by about 4.6% in January and February. Meanwhile, those who switched jobs received only slightly more at 4.8%. That gap has narrowed considerably since the start of 2023, when job switchers could fetch an average salary bump of 7.7%, compared with job stayers’ 5.5%.

“We’re not in a recession obviously, but things are not as good as before,” says Yongseok Shin, a professor of economics at Washington University in St. Louis. “People are responding by staying put.”

Apparently, salary deflation means "You get slightly less of a greater amount of money by switching jobs than you once did".

Sigh, millenials struggling to find a way to blame boomers for their latest misfortune.

 

[martybegan]

https://archive.is/TYN3A

It used to pay to switch jobs. Now it doesn’t.

The salary difference between those who stay in their roles and those who change jobs has collapsed to its lowest level in 10 years, according to the latest federal data.

Job stayers increased their wages by about 4.6% in January and February. Meanwhile, those who switched jobs received only slightly more at 4.8%. That gap has narrowed considerably since the start of 2023, when job switchers could fetch an average salary bump of 7.7%, compared with job stayers’ 5.5%.

“We’re not in a recession obviously, but things are not as good as before,” says Yongseok Shin, a professor of economics at Washington University in St. Louis. “People are responding by staying put.”

Apparently, salary deflation means "You get slightly less of a greater amount of money by switching jobs than you once did".

Sigh, millenials struggling to find a way to blame boomers for their latest misfortune.

More than likely there is a glut of people in the type of white collar jobs that used to snipe for other companies workers.

It's only going to get worse as the federal paper pushers enter the market.

 

[The Sage of Main Street]

https://archive.is/TYN3A

It used to pay to switch jobs. Now it doesn’t.

The salary difference between those who stay in their roles and those who change jobs has collapsed to its lowest level in 10 years, according to the latest federal data.

Job stayers increased their wages by about 4.6% in January and February. Meanwhile, those who switched jobs received only slightly more at 4.8%. That gap has narrowed considerably since the start of 2023, when job switchers could fetch an average salary bump of 7.7%, compared with job stayers’ 5.5%.

“We’re not in a recession obviously, but things are not as good as before,” says Yongseok Shin, a professor of economics at Washington University in St. Louis. “People are responding by staying put.”

Apparently, salary deflation means "You get slightly less of a greater amount of money by switching jobs than you once did".

Sigh, millenials struggling to find a way to blame boomers for their latest misfortune.

A Free Market Means That Whatever Oligarchy Controls the Market Is Free to Do Whatever It Wants

The corpies are colluding to keep salaries low. This was exposed as happening in Silicon Valley, which news spread among the united CEO clique.