Workers Are Changing Jobs, Raking In Big Raises---and Keeping Inflation High

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Workers Are Changing Jobs, Raking In Big Raises---and Keeping Inflation High

Job-switchers are often reaping double-digit pay increases, a new survey shows, a phenomenon that is demonstrating bargaining power for workers while threatening to keep inflation high.

About 64% of job-switchers said their current job provides more pay than their previous job. Among these workers, nearly half received a raise of 11% or more, according to a ZipRecruiter survey provided exclusively to The Wall Street Journal. Nearly 9% are now making at least 50% more.

Elevated rates of job switching could continue: Among prime-age workers aged 25 to 54, around 20% anticipate leaving within a year, while another 26% said they see staying one to two years, the survey said. Historically, the average job lasts four years, said Julia Pollak, chief economist at ZipRecruiter.

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