Wage increases slowing as US labor market cools off

The pay gap between those who are staying in their jobs and job switchers narrowed in May in the latest sign that the U.S. labor market is cooling, according to data released by ADP on June 5.

The median year-over-year pay increase for job switchers decreased to 7.8% in May, from highs of 8.3% in March and 8% in April.

"We've seen that people's willingness to jump from job to job has really declined over the last two years," ADP chief economist Nela Richardson said.

Full story: Yahoo! Finance

 

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