Buffalo, N.Y. (WBEN) - New numbers show switching jobs is paying off - literally - for many Americans.
In the latest edition of the Hamrick Brief, financial reporter Mark Hamrick broke down the boost job-switchers are getting over job-stayers.
"The data we got from payroll processing from ADP is making the case," Hamrick told WBEN. "What they find is that for job-stayers, the pay gain they were getting was a 4.4% annual increase on average, and those who switched jobs were receiving 7%."
This happened while private payrolls grew by just 44,000 in July, well below the roughly 70,000 economists expected. Hamrick said all the numbers combined point to employers are still competing for talent in specific industries, even as headline hiring slows.
Hear more from Hamrick on these numbers and more below:
"The data we got from payroll processing from ADP is making the case" - Mark Hamrick
"The data we got from payroll processing from ADP is making the case" - Mark Hamrick
