Job Switchers See Faster Wage Growth as Employers Compete for Workers Amid Continued Labor Market Strength

Employees who changed jobs in March saw salaries increase by 10%, showing companies are trying to attract workers.

Pay for employees who stayed in positions rose just over 5% in March, the same as February, indicating slower wage growth for those not changing roles.

Private employers added 184,000 new jobs in March, the biggest increase since July, showing continued labor market strength.

The services sector led job gains with 142,000 new positions, especially in leisure/hospitality which saw 63,000 jobs added.

Small businesses with 20-49 employees lost 11,000 jobs in March, potentially due to difficulty competing with larger firms' ability to offer better pay and benefits.