During the outbreak of the pandemic, the name "Great Res Reservation" (Retirage), the transfer usually meant a significant increase in wages. At present, however, the financial benefits from this have been significantly reduced. More and more labours choose to stay in the current job - the trend that economists call "Great Stay" (President).

According to earlier this year's Bank of America Research Institute based on the January-based pay data that was transferred, the job conversion only reached an average of about 4% in the quarter I versus the same period last year.

This rise was not a third of the peak of the 2022 recruitment wave, not even half as high as the increase that workers often achieved when jumping in 2019.

"The use broke out during the post-industrial recovery period, causing significant raise in wages. Businesses then competed strongly to attract talent", Bonnie Dilber - the recruitment director at Zapier software company said. At present, though, the number of candidates is abundant, leaving companies with little reason to compete vigorously in wages as before.

  • The people lined up at a work fair in Uniondale, New York in 2014. Image: Reuters*

The labour market is also very different from that period. According to the U.S. Department of Labour Statistics (BLS), the number of recruitments increased from around 7 million in 2019 to the 12.2 million record in 336022. This figure later reduced back to near the level of pandemic money in recent months.

BLS' data also indicates that the U.S. unemployment rate has increased to 4.3% in May, higher than the bottom level of 3.5% noted in April 2023.

The number of workers who took the initiative also dropped significantly. The volunteer retirement rate has dropped from around 3% of 2022 to around 2% now.

Data from the U.S. Federal Reserve of Atlanta branch also shows that the "rewards" from the job have declined dramatically. During the 2022-2023 period, the transferer recorded an average-year raise of about 2% higher than the continuing number for the same business, according to Fed Atlanta's Wage Growth Tracker index.

However, this gap almost disappeared in 2025. The group's salary growth turned out to be 4.4%, only better than the team's 3.9% remaining. This difference is much smaller than 2022 and 2023.

"While moving jobs often helps workers with higher wages, the current rise may be significantly lower than the previous few years", Mrs Christina DePasquale - Professor of Economics at Carey University of Johns Hopkins remarked.

"As hypothermic recruitment activities and unemployment rates get closer to long-term averages, workers tend to be more cautious when considering leaving the current job," she said. That sort of explains the recent "sharp job" trend" — the laborer chooses to hold the current position rather than move on to the new job.

Local Thu * (in CNBC)

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