Wage growth stalls in July

Mitchell Hartman Aug 2, 2019
HTML EMBED:
COPY
Job seekers look over job opening fliers at a job fair in Pasadena, California in 2009. David McNew/Getty Images

Wage growth stalls in July

Mitchell Hartman Aug 2, 2019
Job seekers look over job opening fliers at a job fair in Pasadena, California in 2009. David McNew/Getty Images
HTML EMBED:
COPY

As job creation and economic growth have moderated in 2019, so has wage growth. The annual increase in average hourly earnings hit a post-recession peak of 3.4% in Feburary, and has since fallen back to 3.2%.

In a slowing economy, economists say there may be less pressure on employers to hike wages precipitously to attract and retain talent.

Businesses may be more cautious about hiring because of trade tensions and the global economic slowdown. It’s still a tight labor market, and employers are offering additional benefits to attract new employees, such as flexible hours and weekly schedules.

Click the audio player above to hear the full story.

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.