For months, we have seen reports that Americans are far less mobile than they used to be — even if jobs await in another part of the country, a lot of people just don't want to, or feel they cannot, move. But they are pretty flexible at least in one respect, the willingness to change jobs. And a big reason is that many are rewarded handsomely for doing so, according to ADP, the payroll firm.

Expand chart
Data: ADP Workforce Vitality Report; Chart: Chris Canipe / Axios

The bottom line: If you are a construction worker, and you held onto your job rather than accept an offer that came along, you are being paid a bit more on average than your workmate who switched to the other company — $31.71 an hour versus $28.51 at the new firm. But your buddy may surpass you later — the average construction switcher's wages were going up at a 5.8% annual rate in the third quarter of this year, compared with 4.9% for those who held onto their job.

The numbers are starkest in the hospitality industry: Job-switchers in hospitality earned $23.18 an hour, versus $25.73 for those remaining loyal to their company; but switchers were seeing 6.9% year-on-year wage growth compared with 4.8% for those who stuck around.

But but but:

  • Given the tightness of the labor market—unemployment is at just 4.1% — why aren't wages higher for switchers from the get-go?
  • Ahu Yildirmaz, an economist who directs the ADP Research Institute, says one reason is that high-wage baby boomers are leaving their jobs and being replaced by lower-wage millennials.
  • So the millennials may actually be receiving higher pay than they normally would at their level of experience.

The other trend is those willing to shift work, ADP said. Job-switching is at an all-time high, the firm said, with 27% saying in the third quarter of the year that they were in the midst of changing employment (up from 23% in the first quarter of 2015). And 63% said they are actively or passively looking for new jobs.

Go deeper

Senate advances Amy Coney Barrett nomination, setting up final confirmation vote

Photo: Xinhua/Ting Shen via Getty Images

The Senate voted 51-48 on Sunday to advance the Supreme Court nomination of Judge Amy Coney Barrett, setting up a final confirmation vote for Monday.

Why it matters: It's now virtually inevitable that the Senate will vote to confirm President Trump's third Supreme Court nominee before the election, which is just nine days away.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Wall Street is living up to its bad reputation

Illustration: Sarah Grillo/Axios

Recent headlines will have you convinced that Wall Street is hell-bent on living up to all of its stereotypes.

Driving the news: Goldman Sachs is the biggest and the boldest, paying more than $5 billion in fines in the wake of the 1MDB scandal, in which billions were stolen from the people of Malaysia.

2 hours ago - Health

Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk

Former FDA commissioner Scott Gottlieb said "the short answer is yes" when asked whether Vice President Mike Pence is putting others at risk by continuing to campaign after several aides tested positive for COVID-19, stressing that the White House needs to be "very explicit about the risks that they're taking."

Why it matters: The New York Times reports that at least five members of Pence's inner circle, including his chief of staff Marc Short and outside adviser Marty Obst, have tested positive for the virus. Pence tested negative on Sunday morning, according to the VP's office, and he'll continue to travel for the final stretch of the 2020 campaign.