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February 28, 2024
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Business

Job Switchers Are Saying ‘Show Us the Money.’ They’re Getting It.

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The Street

By Dan Weil Many workers, particularly job switchers, are seeking and getting pay raises. But lower-paid workers have a lot of ground to make up. One element of inflation that is particularly worrisome to economists is wage inflation. When wages rise, businesses feel freer to raise their own prices. Then workers demand still higher wages to afford the higher prices. And then businesses are tempted to raise their prices further. So consumers end up with an inflationary spiral. Average hourly earnings soared 5.6% in the 12 months through March. Workers switching jobs are particularly benefiting….

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