"Indeed Report: US Wages Plummeting at Alarming Rate"
US wage growth has sharply decelerated, with salaries up 3.3% in February compared to a year ago, down from 9.3% in January 2022, indicating less competition for new hires. The slowdown is most pronounced in low-wage sectors, with posted pay dropping to 3.4% from 12.5% at the start of 2022. Economists expect the labor market to continue slowing as higher interest rates take effect, with signs of weakening labor market and notable layoffs from major companies. Despite this, job growth has remained resilient, with 275,000 jobs added in February, though the unemployment rate rose to 3.9%.