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Story summary
- A Bank of America analysis indicates a decline in job switching among Americans as the labor market cools.
- Wage growth for job hoppers has decreased significantly, from a median raise of 20% in 2022 to 7% in July 2025.
- Economic uncertainty, including tariffs, is impacting hiring and job availability, leading to a stagnant labor market.
- Cleveland's employment has returned to pre-Great Recession levels, with a 5.2% unemployment rate in July 2025.
