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Atlanta Fed Wage Growth Tracker Unchanged At 5.2% In Oct

  • The Atlanta Fed Wage Growth Tracker was unchanged in Oct at 5.2% (three-month moving average of median wage growth), i.e. still its softest since Jan’22.
  • It came as people who changed jobs saw unchanged pay growth at 5.6%, whilst those not changing jobs saw a moderation from 5.0% to 4.8%.
  • Most of the moderation in the overall wage tracker from the high of 6.7% seen in summer 2022 had come from job switchers pulling back from particularly strong rates, although this moderation in job stayers is starting to build.
  • Looking at the separate details, those in the prime age cohort saw wage growth dip a tenth to 5.6%.

Source: Atlanta Fed

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