According to data released by the ADP Research Institute, the wage growth rate for the smallest businesses in the usa accelerated in November for the first time since early last year.
The salaries of companies with fewer than 20 employees increased by 4.2% year-on-year in the same month, up from 3.9% in October, representing the largest increase since early 2022.

These micro-enterprises employ more than a quarter of the workforce in the usa, so the accelerating wages could draw the attention of Federal Reserve policymakers, as they are closely monitoring the labor market for signs of rising inflation pressures.
The wage growth for slightly larger companies with 20-49 employees also saw a slight acceleration in November. For companies with 50 or more employees, the wage growth in November either slowed down compared to the previous month or remained flat.
ADP's research also showed that the wage growth gap between job changers and stayers widened for the first time since March, an indicator that reflects the tightness of the labor market. In November, this gap was 2.4%, still far below the over 8% peak reached in 2022, when us businesses scrambled to hire employees during the post-pandemic recovery phase, providing ample opportunities for significant raises through job changes.