New federal data shows that the difference in increased pay between staying at a job versus changing roles for a higher salary has decreased to its lowest level in a decade, with a wage growth survey revealing only a slight difference in salary increases. The U.S. Labor Department reports that more Americans are opting to stay in their current jobs due to difficulty in finding comparable positions and the perception of employers having more bargaining power. Despite a competitive labor market and lower hiring rates, the finance sector remains unaffected, with some banks offering higher salaries to job switchers.
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Markets on alert for changes to runoff of Fed’s balance sheet
Financial markets are closely monitoring the Federal Reserve's comments on future interest rates, as well as any potential adjustments to the ongoing balance sheet runoff known as quantitative tightening (QT). This dual focus highlights the significance of not only rate decisions but also the Fed's efforts to reduce its balance sheet. Investors are keenly aware of both factors and their potential impact on market dynamics. Full Article
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