Small-Business Wage Growth Spiked During the Pandemic, Now Cooling with the Labor Market
Sunday, 8 September 2024, 13:26
Small-Business Wage Growth Trends
Small-business wage growth experienced significant spikes during the pandemic as companies competed for labor. As restrictions eased, this trend began to normalize.
Current Wage Growth Levels
- Hourly wage growth has reverted to pre-pandemic levels.
- Small businesses over 50 employees show different growth trends.
Impact on the Labor Market
This shift reflects broader trends in the labor market, where demand and supply are stabilizing post-pandemic.
Market Implications
Economic indicators suggest that the cooling labor market will affect consumer spending and business investments in the coming months. Stakeholders should pay attention to these evolving trends.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.