03/07/2022

Pay Raises Might be Starting to Slow

Hourly earnings grew by just $0.01 from January

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.

Please select this link to read the complete article from CNBC.