More Americans are staying put in their jobs rather than jumping ship as the labor market cools .

So concludes a new analysis from the Bank of America Institute, which drew on the deposit data from millions of its customers to track job changes and the median pay bump people get when they switch employers.

The analysis shows that while the job change rate — defined in this case as the total percentage of Bank of America customers who have changed employers — has edged up this year, Americans are much less to likely switch jobs than during the "Great Resignation." That was the period during the pandemic when a massive wave of workers quit their jobs, motivated by better work opportunities and work-life balance. Over 20 million people quit their jobs in the second half of 2021,

See Full Page