Switching Jobs Paid Big Time in April

May 16, 2023 | Macro Insights, No Bull Economics

Job Switching Post Banner

While declining labor turnover was a common theme during the 1Q23 investor calls, wage data shows that there is still good reason for employees to job-hop.


  • As evidenced by the chart below, there has rarely been such a good time to shop for a new job, with job switchers enjoying a +7.6% y/y wage increase during April 2023 vs. “only” +5.6% for job stayers.
Wage Growth Tracker by Job Switcher/Stayer

Source: Wage Growth Tracker – Federal Reserve Bank of Atlanta (atlantafed.org)

Marketing Consumer Research Weekly Banner

Nobull consumer research weekly

No Bull Economics

Get Corporate & Market Insights in your inbox