Wage gains have cooled to some of the lowest levels in more than a decade, with young US workers bearing the brunt of the slowdown, according to a report by the JPMorganChase Institute.
While all age groups have seen weaker raises since the peak levels of the pandemic, it’s been most pronounced for those ages 25-29, the report showed Wednesday. Their annual income growth slowed to 5.2% in September — one of the slowest paces since 2011, when the institute started collecting data and the economy was still recovering from the Great Recession.
“These dynamics show a downgrade in purchasing ...