July 2024 Labor Market Update: Slowdown in Posted Wage Growth Suggests the Market Has Found a Groove

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Key points:

Annual posted wage growth has registered 3.1% in each of the past three months and is in line with the pre-pandemic average. This stabilization is broad-based, with steady wage growth across wage levels. Further stable growth at this level would signal that the labor market has sustainably rebalanced.

Our monthly Labor Market Update uses Indeed and other labor market data to examine important trends. Our US Labor Market Overview chartbook provides a more comprehensive view of the US labor market. Data from our Job Postings Index — which stands 11.7% above its pre-pandemic baseline as of

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