In an article titled “Tight labor market giving more Americans career clout,” USA Today leverages recent ADP Research Institute data from our Workforce Vitality Report highlighting that the tightening labor market is creating an opportunity for job switchers to increase their wages.
“About half a million U.S. workers left one job for another in the fourth quarter, up from 406,000 in the same period in 2015 and 365,000 two years ago, according to estimates by private payroll processor ADP. That trend largely has been reported by the Labor Department and reflects a more vibrant job market. But ADP, which, unlike Labor, can track employees as they move among jobs, also finds that more of them are shifting into new sectors, such as a marketing manager who leaves retail for finance. In eight of the 10 major industries tracked by ADP, the share of job-switchers who came from a different industry increased from late 2014 to late 2016 while the share swapping jobs within the same industry fell. That’s up from seven of 10 sectors that met that criteria in the third quarter.”
Head over to USA Today for the full story!