"and it appears that the job-hopping hack is unwinding.ADP's latest data suggests that there are now only a couple of industries where competition between employers results in better pay: industries where demand for skilled labor outweighs supply. A pay trends report shared with Fortune yesterday from the private payroll company showed that in January, year-over-year pay growth for job-hoppers slowed to 6.4%, down from 6.6% in December."
"The gap between job-stayers and job-hoppers (analysed by tracking high-frequency payroll reporting for the same cohort of workers over 12-month intervals to compute each individual's year-over-year change in gross pay, including base salary, bonuses, and tips) has been shrinking, particularly since this summer, and hasn't been so close since November 2020. As of January, the difference in pay growth between switchers and stayers is just 1.9%."
Rapid salary increases from job-hopping during tight labor markets have diminished by 2026. ADP payroll data shows job-hoppers' year-over-year pay growth slowed to 6.4% in January, down from 6.6% in December, while job-stayers' growth held at 4.5%. The gap between switchers and stayers has narrowed to 1.9%, the closest since November 2020. Industries with in-demand skills still favor switchers most: construction and natural resources/mining saw job-hopper growth of 6.6% and 5.6% versus stayers. Financial activities and manufacturing offered about a 3% boost for switchers. Service-sector gains were fractional.
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