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03/07/2022
Pay Raises Might be Starting to Slow
Hourly earnings grew by just $0.01 from January
The big raises that many Americans got over the past year are starting to get smaller.
Workers in the private sector saw average wages grow by 5.1 percent in the past year, to $31.58 an hour, according to the February jobs report issued Friday by the U.S. Department of Labor. Rank-and-file workers saw a higher bump, of 6.7 percent, to $26.94 an hour in February.
Employers have paid bigger paychecks to compete for workers in a competitive hiring market.
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