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More recent data, Eren said, is showing wage increases for job switchers dropping as the labor market cools off and more layoffs are occurring.

For WorldatWork Members ;Navigating Living Wages in Total Rewards , Workspan Magazine article; ;Labor vs.

Specifically, ADP noted that the drop in leisure and hospitality jobs in November could be a sign of the labor market normalizing , and therefore indicating payroll growth could eventually slow next year.

For WorldatWork Members ;Linking Rewards to Successful Performance Management Practices , Journal of Total Rewards article; ;How AI Is Rewiring Performance and Rewards , Journal of Total Rewards article; ;A New Way to Evaluate Performance-Compensation Strategy , Journal of Total Rewards article; ;From Perks to Performance: Total Rewards as a Strategic Force , Workspan Magazine article; ;Performance Review Builder , tool; For Everyone ;Q&A: How Can TR Leaders Position Themselves as Performance Partners?

AI has been cited for 48,414 job cuts this year.; ;Market and economic conditions as responsible for another 21,104 cuts, bringing the year-to-date total for this reason to 229,331.; ;Closings of stores, units and plants as triggering 16,739 cuts for the month and 161,391 for the year.; ;Restructuring as the factor in 7,588 cuts, for a total of 108,038 so far in 2025.; “October’s pace of job cutting was much higher than average for the month.

Journal of Total Rewards readers will benefit from Beyer’s academic work.

Next Steps So, how should total rewards professionals proceed, given all the changes?

Now, many of those employers are likely to move this year to drop any mandates they may have enacted during the pandemic.

Cover Story Workspan Magazine How Will Recent Union Wins Affect Overall Total Rewards?

In June, both the number of hires and total separations were little changed at 5.3 million and 5.1 million, respectively.