--- title: Rising Wages Mean It Could Be a Great Time to Ask for a Raise — or Find a New Job description: 'New employment reports show a strong jobs market: Workers have leverage, with rising wages and high confidence they can get a raise.' authors: - name: Brenden Rearick role: Reporter url: https://money.com/author/brenden-rearick/ bio: Brenden Rearick is a former reporter at Money who specialized in covering breaking news and enterprise stories about credit cards, real estate, investing, and personal finance trends. education: University of Pittsburgh, BA at_money_since: 2023 articles: 133 covers: - Career Advice - Banking - Credit - Credit Cards - Economy and Politics - Education - Housing - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes - Technology former_staff: true editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Career Advice - Banking - Business - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2023-07-07T20:17:13.000Z' modified: '2023-07-07T20:19:01.000Z' section: Career Advice tags: - News word_count: 514 canonical: https://money.com/rising-wages-ask-for-raise/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Photo illustration of a person climbing a vertical stack of coins](https://img.money.com/2023/07/News-Worker-Wages-Climbing-Employees-Confident-Raise.jpg?crop=0px%2C0px%2C2880px%2C1620px&quality=85) Workers can rest a little easier right now: The U.S. jobs market remains surprisingly strong, with employees generally seeing higher wages and more confidence in their chances of getting a raise. New data shows that both workers who stay at their job and those who jump ship for another are getting paid more. What's more, there's an increase in employees who think they have the leverage to secure more money from their employer. So now is as good a time as ever to ask for that [much-deserved raise](https://money.com/workers-raise-looking-new-job-survey/) or [search for a new job](https://money.com/best-job-search-sites/). ## Getting a great job with a great pay starts with a great resume ### A Resume Builder can not only help improve your resume, but also match it with your career goals. Click on your state to get started. [Get Started](https://money.com/pr/v0aaf8403010?ap_referrer=%2Frising-wages-ask-for-raise%2F) ## Data from the new jobs reports The Department of Labor's new [jobs report](https://www.bls.gov/news.release/empsit.nr0.htm) said that the U.S. added 209,000 jobs in June. While the figure is down from the 339,000 jobs added in May, it marks the 30th consecutive month of job growth. The strength of the jobs market has come as a surprise to some economists, since the [Federal Reserve's monetary tightening](https://money.com/federal-reserve-pause-interest-rate-hikes/) has aimed to cool employment for some time now. The report said that the industries with the largest jobs growth last month were [government](https://money.com/employers-loosening-drug-policies-government-jobs/), [healthcare](https://money.com/highest-paying-jobs-in-healthcare/) and [construction](https://money.com/highest-paying-trade-jobs/). While it might not excite the Fed economists, who had hoped their [interest rate hikes](https://money.com/fed-interest-rate-hike-september-2022/) would slow job growth and continue to [lower inflation](https://money.com/february-2023-inflation-prices-climbing/), the data combines with the Labor Department's Job Openings and Labor Turnover Summary (JOLTS) [report](https://www.bls.gov/news.release/jolts.nr0.htm) to paint a pleasing picture for workers. The number of workers [quitting jobs](https://money.com/why-workers-quit-jobs-reasons/), according to the JOLTS report, increased to over 4 million last month, while [firings and layoffs](https://money.com/americans-concerned-widespread-layoffs/) stagnated. Generally, quitting a job is a voluntary move on the part of the employee. A rise in "quits" shows that workers maintain a good deal of leverage over employers, since it means the job market is likely full of more attractive career opportunities. ## Worker pay (and confidence) are on the rise Analysts noted that worker wages and confidence are both rising. In fact, the Labor Department report showed that the number of discouraged workers (those who feel that there are no available jobs for them) decreased by 26% since May. A separate [report](https://adp-ri-nrip-static.adp.com/artifacts/us_ner/20230706/ADP_NATIONAL_EMPLOYMENT_REPORT_Press_Release_2023_06%20FINAL.pdf?_ga=2.184124513.67213312.1688740700-1165126008.1688740699) from private payroll company ADP showed that wage growth continues for both workers who have stayed with their employers and those who have [switched jobs](https://money.com/best-job-search-sites/). The median change in annual pay for the job-stayers in June came in at 6.4%, and the same metric for job-switchers was 11.2%. Meanwhile, a [report](https://pro.morningconsult.com/analysis/us-job-labor-market-july-2023) from research firm Morning Consult indicates that workers are also becoming more *confident*: 24% of individuals feel that they have enough leverage to successfully ask their employer for a raise. This is the highest percentage reported in Morning Consult's report since the company started tracking the data in 2021. "Higher-paid workers are most likely to say their employer is 'very likely' to raise their pay when asked," Morning Consult senior economist wrote in the report, "but we see a steady upward trend among lower-income workers too." ## Open more doors with a Resume Builder ### Your resume is one of your most important career tools. TopResume carefully crafts your career story to target the job that you want to land. Click below to get started. [Get Started](https://money.com/pr/bc78f3d35181?ap_referrer=%2Frising-wages-ask-for-raise%2F) ![](https://s3.consumersadvocate.org/prd/image/image/22338/medium_66de1504-7f5e-4208-b1f7-52cce8fa7de5.png) Having a great resume can help you get closer to your dream job. [Get Started](https://money.com/pr/cd4098400841?ap_referrer=%2Frising-wages-ask-for-raise%2F) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/rising-wages-ask-for-raise/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Career Advice", "item": "https://money.com/career-advice/" }, { "@type": "ListItem", "position": 3, "name": "Salaries and Wages", "item": "https://money.com/salaries-and-wages/" }, { "@type": "ListItem", "position": 4, "name": "Rising Wages Mean It Could Be a Great Time to Ask for a Raise — or Find a New Job" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/rising-wages-ask-for-raise/#webpage", "url": "https://money.com/rising-wages-ask-for-raise/", "name": "Rising Wages Mean It Could Be a Great Time to Ask for a Raise — or Find a New Job", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-07-07T20:17:13.000Z", "mainEntity": { "@id": "https://money.com/rising-wages-ask-for-raise/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/rising-wages-ask-for-raise/#breadcrumb" }, "dateModified": "2023-07-07T20:19:01.000Z" }, { "@type": "NewsArticle", "headline": "Rising Wages Mean It Could Be a Great Time to Ask for a Raise — or Find a New Job", "articleSection": "Career Advice", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/07/News-Worker-Wages-Climbing-Employees-Confident-Raise.jpg?crop=0px%2C0px%2C2880px%2C1620px&quality=85", "width": 1012, "height": 569, "caption": "News-Worker-Wages-Climbing-Employees-Confident-Raise" } ], "author": [ { "@type": "Person", "name": "Brenden Rearick", "url": "https://money.com/author/brenden-rearick/", "@id": "https://money.com/author/brenden-rearick/#author", "description": "Brenden Rearick is a former reporter at Money who specialized in covering breaking news and enterprise stories about credit cards, real estate, investing, and personal finance trends.\r\n\r\n", "email": "brenden.rearick@money.com", "alumniOf": "University of Pittsburgh, BA" } ], "publisher": "https://money.com/#organization", "datePublished": "2023-07-07T20:17:13.000Z", "description": "New employment reports show a strong jobs market: Workers have leverage, with rising wages and high confidence they can get a raise.", "abstract": "New employment reports show a strong jobs market: Workers have leverage, with rising wages and high confidence they can get a raise.", "@id": "https://money.com/rising-wages-ask-for-raise/", "inLanguage": "en-US", "dateModified": "2023-07-07T20:19:01.000Z", "editor": [ { "@type": "Person", "name": "Brad Tuttle", "url": "https://money.com/author/brad-tuttle/", "@id": "https://money.com/author/brad-tuttle/#author", "description": "Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals.\r\n\r\n", "image": "https://img.money.com/2014/01/Brad-Tuttle.png?w=226&h=247&crop=1", "alumniOf": "Columbia University School of Journalism, MS", "sameAs": [ "https://twitter.com/bradrtuttle", "https://linkedin.com/in/brad-tuttle-834b225" ] } ], "wordCount": 514, "keywords": [ "News" ], "about": [ { "@type": "Thing", "name": "Career counseling", "sameAs": [ "https://en.wikipedia.org/wiki/Career_counseling" ] }, { "@type": "Thing", "name": "Wages and salaries", "sameAs": [ "https://en.wikipedia.org/wiki/Wages_and_salaries" ] }, { "@type": "Thing", "name": "Employment", "sameAs": [ "https://en.wikipedia.org/wiki/Employment" ] } ] } ] } ```