"Job Hoppers Reap Double the Pay Gains, Private Sector Hiring Surges: March Economic Report"
New data from ADP shows that Americans who switch jobs are experiencing a median year-over-year pay increase of 10% in March, while job stayers saw a 5.1% annual wage gain. The spread between the two figures widened for the second consecutive month, with a surprise 184,000 job additions in March. Economists are closely monitoring wage increases in the Federal Reserve's fight against inflation, as continued wage growth could challenge the Fed's ability to cut interest rates quickly. However, strong job numbers have been considered positive for the overall economic story, with the next test for the labor market's strength coming with the release of the March jobs report.