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Typical job switcher got a pay raise of nearly 10%, study finds

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Many workers who changed jobs recently saw raises from their new paychecks outpace inflation by a wide margin — by nearly 10% or more, according to a new study by the Pew Research Center.

The typical American who changed employers in the year from April 2021 to March 2022 got a 9.7% bump in their «real» wages over a year earlier, according to Pew, a nonpartisan research organization, which analyzed federal labor data. «Real» wages measure the change in a worker's pay after accounting for inflation, which in June was at its highest level in more than 40 years. More from Personal Finance:Credit card balances jump 13%, most in over 20 yearsEmployee stock purchase plans can carry 'a big risk'Here are the 'most employable' college degrees The figure cited by Pew represents the median, meaning half of workers who switched jobs got a net pay increase of 9.7% or more.

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