Hiring Pace for Low-Income Workers Still Robust, Vanguard Says
- Data show US hires rate in April climbed to 18-month high
- Higher-paying industries more cautious in hiring: economist
Photographer: Christopher Dilts/Bloomberg
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The pace of hiring in the US is ticking up, boosted by the employment of lower-paid workers, even as demand for middle-and top-income earners continues to soften, according to Vanguard Group Inc.
Proprietary data on enrollments in 401(k) retirement plans show that the hires rate — which refers to new hires as a share of existing employees — climbed to 2.8% last month, the highest since October 2022, and up from 2.4% in March.