Wage growth in U.S. job postings has been softening for more than a year now, and at the current rate it could return to pre-pandemic levels by early 2024, according to Indeed Hiring Lab.
Advertised wages rose 5.3% in May from a year earlier, a marked decline from the peak of 9.3% in January 2022, according to Indeed’s wage tracker. The slowdown has been broad-based across industries, but it’s been particularly pronounced in low-wage sectors — for the type of positions that saw the biggest gains as the economy recovered from the pandemic.
