Wages for U.S. workers grew 3.2% over the last year, increasing the average wage level by $0.88 to $28.93 an hour, according to the ADP Research Institute Workforce Vitality Report. The wage growth of 3.2% corresponds to the U.S. Bureau of Labor and Statistics number of 2.9% that was published this month.
“The final quarter of 2019 was marked with a slight deceleration in job growth, and wage growth was unchanged,” said Ahu Yildirmaz, co-head of the ADP Research Institute. “Wage growth for holders and entrants decelerated, whereas switchers experienced acceleration.”
Earlier this year, job holders, job switchers, and entrants saw wage growth of 5.0% or better; however, job holders are now seeing only 4.6% growth, entrants stand at 4.9%, and switchers 5.0%.