Accessibility Tools

Skip to main content

Pay Gains Are Shrinking

Written on .

Everyone can feel the high inflation levels that have been plaguing the U.S. over recent months.  Recent data indicates the high inflation levels are cooling at least somewhat.  The U.S. Department of Labor (DOL) reported on January 31 that wage and benefit gains slowed in the second half of 2022, after touching the highest reading since current data collection programs began in 2001.  Specifically, wage and benefit growth ran at an annualized rate of 4% in the fourth quarter, well below the 5.8% rate recorded early in 2022.  Nevertheless, government officials see the recent pace of wage growth as still elevated given the 2% inflation target.  Other signs that the labor market is slowing including lay-offs initially concentrated in finance and tech companies, but now spreading.

This article is part of our March 2023 Newsletter.

View newsletter online

Download the newsletter as a PDF

Related Content

Get Email Updates

Receive newsletters and alerts directly in your email inbox. Sign up below.
person staning next to someone in a wheelchair, outdoors

"No-Fault" Attendance Policy Upheld against Disability Claims

Employers continue to be confused about how to handle absences related to disabilities, as to applying their "no-fault" attendance polici...
person holding up a hand, stop, indoors

NLRB Issues First Unfair Labor Practice Complaint against Non-Competes and Training Repayment

The General Counsel of the National Labor Relations Board (NLRB), former union lawyer Jennifer Abruzzo, continues to attempt to expand th...
ftc front door

Department of Justice's Anti-trust Division Announces Anti-trust Compliance Programs Include Training for Human Resources

There is relatively recent increased attention from government enforcement authorities of anti-trust issues affecting human resource prof...
stylized ai graphic

AI Hiring Bias Is New Focus of EEOC

The Equal Employment Opportunity Commission's (EEOC) Strategy Enforcement Plan for 2024-2028 published in the Federal Register last year ...
old fashio keys, hanging on a ring, attached to a wood board

Keys to Address Employee Dissatisfaction and Activism

We are in a new age of employee dissatisfaction and activism.  There were critical labor shortages during the pandemic, and increased con...
promo graphic, Procedural Accommodations: Efficiently Handling Employer Obligations

Procedural Accommodations: Efficiently Handling Employer Obligations

The ADA and other legislation – both states as well as federal -- often require “reasonable accommodations” in a multiplicity of settings...