I’m not sure why this trend continues … but it seems if you want a decent raise you must quit your job!

Even though numerous bosses are upping their overall wage scales in meaningful ways, it appears many employers will do significantly more, paycheck-wise, to lure a new worker than to keep the long-timers happy.

Ponder this workplace statistical oddity from economists at the Federal Reserve Bank of Atlanta.

Pay for workers who switched jobs rose at an average 3.98 percent annual rate in 2018’s first half. That’s up from 3.83 a year earlier. Welcome aboard, newbie!

But wages for loyal workers who stayed put rose only at a 2.65 annualized rate in the first half. That rate of increase is actually down from 2.92 percent a year ago. Ah, the cost of loyalty!

Bottom line: The quitter’s pay-hike advantage runs 1.33 percentage points. How big is that?

1. It’s more than double the average 0.53 percentage-point gap since 1997. The historical higher pay for newbies makes sense as bosses have to use pay as a key enticement for recruitment.

2. The gap is up from 0.92 percentage points a year ago, helping to explain the surge in workers quitting jobs nationwide.

3. It’s the largest six-month gap since the end of 2000. Considering what came next economically (recession ugliness), you might want to rethink your career path!

Maybe this gap is really about how many workers lack warm-and-fuzzy feelings for their bosses. Or maybe it’s an example of how hard bosses must work to fill staff vacancies in an ultra-tight job market.

No matter the reasons, 3.56 million U.S. workers “voluntarily” left their jobs in May, surpassing the last peak of quits in January 2001. Money may not buy happiness, but it can get you to switch bosses.

Now the Atlanta survey doesn’t have regional results. But another federal government benchmark shows us that local bosses are increasing salaries.

Southern California bosses raised wages and salaries by 3.3 percent in the past year, according to the Employment Cost Index for Los Angeles, Orange, Riverside, San Bernardino and Ventura counties. That’s up from 3.1 percent annualized in the previous quarter and 2.7 percent in the year-ago period. Again, a tight regional job market with low unemployment has forced employers to pay up to retain and attract workers.

From 2010 to 2014 in the post-recession years, the index showed tight-fisted employers raising pay at just a 1.6 percent annual rate. Since then, local wages and salaries have averaged annualized increases of 3.2 percent.

Of the 15 metropolitan areas tracked by this index, Southern California raises were sixth highest nationwide last quarter. Biggest hikes were seen in the Bay Area at 4.5 percent. Lowest? Boston at 1.1 percent.

Nationally, wages and salaries rose at a 2.8 percent pace in the last quarter by this math vs. 2.5 percent in the previous quarter and 2.2 percent a year ago.

The index differs from other salary measurements because it’s adjusted to limit the possible impact of employment swings in the number of jobs in high-paying occupations or low-wage industries. When the index considered additional benefit costs to see total compensation, Southern California labor costs in the last quarter were up at a 3.1 percent annual rate vs. 3.2 percent in the previous quarter and 2.9 percent a year ago.

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