ADP, the world’s largest payroll company, released its monthly estimates of median income changes. They looked at the numbers for over 10 million paychecks and found that the people who stayed in their jobs for the past year experienced flat income growth from last month. Meanwhile, individuals that switched jobs saw a slight increase in pay.
The median income for “job stayers,” according to the ADP report, was $57,200 in January with a median year-over-year income growth of 7.3%.
Annual pay growth for “job changers” is consistently higher than those staying in their jobs. In 2021, growth for job changers was 5.4% while “stayers” saw incomes grow annually by 1.9%. The two categories kept pace with one another throughout 2022 and pay growth for switchers remains double that of stayers.
However, even with the more pronounced growth, “job stayers” make more money according to ADP. “Job changers” had a median income of $47,900, a difference of almost $10,000. The difference is likely due to the changers being younger and earlier in their careers.
Arizona employees experienced an income growth of 8.5% with a median pay of $52,000. While the median pay is lower than the rest of the U.S., income growth is high compared to other states, ranking seventh. The two states with the highest annual growth in income were Wyoming and Oregon, both with double-digit growth.
By industry, leisure and hospitality jobs saw annual pay growth of 10.1%, the highest of any category. This was followed by mining jobs and trade, transportation and utilities. The industries with the slowest annual pay growth were professional services and people that work in the information technology sector. Both categories have higher median annual incomes than the other industries looked at by ADP.
