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

Get Email Updates

Receive newsletters and alerts directly in your email inbox. Sign up below.
ai, human reach out
A January 20, 2026, class action filed against Eightfold AI, Inc. in California is sending shockwaves through the employer and AI community…
danger sign, skull
A second “bombshell” affecting HR pertaining to AI is a federal court ruling in New York, that a defendant’s use of AI in researching and p…
CHAT GPT
Soon after the deciding of the above-discussed case on February 17, 2026, in U.S. v. Heppner, a criminal case in the District Court for the…
avoid, wave away
There are no easy answers to the above question, but some general observations will nevertheless be made.  First, the New York district cou…
ai visualization
Perhaps the starting point is to look at the type of AI platforms generally available.  At a recent conference about AI use for HR, speaker…
june 2026 legal immigration webinar promo graphic
The webinar will cover how to deal with a worksite enforcement action and various types of immigration enforcement activities. The webinar…