The big raises that many Americans got over the past year are starting to get smaller.
Workers in the private sector saw average wages grow by 5.1 percent in the past year, to $31.58 an hour, according to the February jobs report issued Friday by the U.S. Department of Labor. Rank-and-file workers saw a higher bump, of 6.7 percent, to $26.94 an hour in February.
Employers have paid bigger paychecks to compete for workers in a competitive hiring market.
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