Does changing your job lead to higher wages? #wagegrowth

So at the peak of the frenzy, the froth of the labor market post pandemic, we had job stayers, on average, getting about 8% increases to keep up with inflation, which was running at 9% at the time. So even though the wage growth was substantial, it was still not enough for most people to feel like they're keeping up with it. That's why we had so many people changing jobs, because job changers, on average, were getting 16% increases, and so that was their way to stay ahead of the inflationary curve. Now, both numbers have come down substantially. The latest data we've got from ADP is October 4.6% on average pay increases for people that are staying in their jobs, 6.2% for people that are changing jobs. So still a slight premium, but not enough of an incentive to say to someone, give up the stability and consistency of paycheck that you currently have for the prospect of something different.