Americans who switched jobs this year are often receiving double-digit pay increases, according to a new survey, underscoring how a tight labor market has empowered workers – and fueled inflation.
Labor Secretary Marty Walsh ackowledges there is 'work to do' on the jobs front, but argues overall the March employment report was 'strong.'this year are often receiving double-digit pay increases, according to a new survey, underscoring how the tightest labor market in years has empowered workers – while also fueling inflation.
A large"Now Hiring" advertisement posted on the windows of the Advance Auto Parts store in Bay Shore, New York, on March 24, 2022. The Labor Department reported last month that 4.4 million Americans, or about 2.9% of the workforce, quit their jobs in February. Meanwhile, the number of job openings fell slightly to 11.3 million by the end of February – the third-highest level on record. In fact, the number of available jobs has topped 10 million for seven consecutive months; before the pandemic began in February 2020, the highest on record was 7.7 million.
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