ADP Report: In July, salary growth for career changers accelerated. Last month, the salary increase for retained employees remained at 4.4%, while the salary increase for those who changed jobs rose to 7%, the biggest year-on-year increase since August 2025. The median annual wage growth rate for people employed in the financial services industry was 5.2% in July and 5.1% in June. The median annual wage growth rate for workers employed in the manufacturing industry was 5% in July and 4.9% in June. The median annual salary growth rate for professional/commercial service workers was 4.1% in July and 4.1% in June. The median annual wage growth rate for construction workers was 4.5% in July and 4.6% in June. The median annual wage growth rate for trade/transport/utility workers was 4.4% in July and 4.4% in June. ADP chief economist Nela Richardson said: Job seekers are highly sensitive to real-time economic conditions, and their rapid wage growth means there are supply restrictions in some labor markets. At the same time, typical recruitment models are changing as employers respond to changes in the macroeconomic environment.

ADP Report: In July, salary growth for career changers accelerated. Last month, the salary increase for retained employees remained at 4.4%, while the salary increase for those who changed jobs rose to 7%, the biggest year-on-year increase since August 2025. The median annual wage growth rate for people employed in the financial services industry was 5.2% in July and 5.1% in June. The median annual wage growth rate for workers employed in the manufacturing industry was 5% in July and 4.9% in June. The median annual salary growth rate for professional/commercial service workers was 4.1% in July and 4.1% in June. The median annual wage growth rate for construction workers was 4.5% in July and 4.6% in June. The median annual wage growth rate for trade/transport/utility workers was 4.4% in July and 4.4% in June. ADP chief economist Nela Richardson said: Job seekers are highly sensitive to real-time economic conditions, and their rapid wage growth means there are supply restrictions in some labor markets. At the same time, typical recruitment models are changing as employers respond to changes in the macroeconomic environment.