Jobs
Wage Growth Is Slowing Sharply in US Job Postings, Indeed Says
- At this rate, gains will return to 2019 levels in six months
- Low-income positions, software jobs see large pullbacks
Advertised wages rose 5.3% in May from a year earlier, a marked decline from the peak of 9.3% in January 2022.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
Wage growth in US job postings has been softening for more than a year now, and at the current rate it could return to pre-pandemic levels by early 2024, according to Indeed Hiring Lab.
Advertised wages rose 5.3% in May from a year earlier, a marked decline from the peak of 9.3% in January 2022, according to Indeed’s wage tracker. The slowdown has been broad-based across industries, but it’s been particularly pronounced in low-wage sectors — for the type of positions that saw the biggest gains as the economy recovered from the pandemic.