Wage Gains Without Labor Market Reforms: A Mixed Bag for Workers The recent surge in pay growth among lower paid workers who switched jobs may be a silver lining amidst a cloudy labor market, but it's crucial to separate the signal from the noise.
While some analysts hail this trend as a sign of increased mobility and competitiveness for these workers, others warn that we're merely seeing the effects of a skills mismatch and employers' struggles to recruit specialized talent.
The Bank of America Institute's report highlighting a 12. 5% three month moving average wage increase for job changers in July is striking, especially when compared to stagnant overall pay growth for U. S.