US Wages Drop Rapidly: Shocking Decline Reveals Economic Shift 📉

Data Shows , US Wages Falling , at a 'Striking' Pace.<br />Fox News reports that wage growth <br />in the United States has slowed <br />significantly over the past year. .<br />According to new data from Indeed, <br />wage growth is beginning <br />to near pre-pandemic levels. .<br />Indeed's wage tracker showed that salaries have had <br />a marked drop since January 2022, suggesting that <br />employers are seeing less competition for new hires.<br />The pace of deceleration <br />is striking. Posted wage growth <br />has fallen by almost 3 percentage <br />points over the past year, Nick Bunker, Indeed labor economist, via Fox News.<br />Fox News reports that the most pronounced <br />deceleration was found in low-wage sectors. .<br />Given the huge run-up in posted <br />wages for those sectors, wage growth <br />is still above its pre-pandemic pace. <br />How long this will last is uncertain, Nick Bunker, Indeed labor economist, via Fox News.<br />After remaining historically tight throughout the last <br />year, the labor market is expected to continue slowing <br />in the coming months amid elevated interest rates.<br />Since March of 2022, the Federal Reserve has increased interest rates 11 times in an attempt to slow down inflation and cool the labor market.<br />Since March of 2022, the Federal Reserve has increased interest rates 11 times in an attempt to slow down inflation and cool the labor market.<br />In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs. .<br />In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs. .<br />In 2024, there have already been a number of significant layoffs, with major companies like Alphabet, Amazon and Citigroup cutting jobs. .<br />Despite this, job growth has <br />remained resilient, with employers <br />adding 275,000 jobs in February. .<br />At the same time, Labor Department <br />data shows that the unemployment <br />rate for the month also rose to 3.9%.