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.
If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air. But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.
Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.
When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.
