Demand for workers has tumbled from a record high reached last year and is now hovering just above pre-pandemic levels
US wage gains cooled again in the second quarter, according to data from the Bureau of Labor Statistics. Employers added 187,000 jobs in July, slightly above the monthly average seen in the decade before the pandemic, and wages and benefits paid to US workers rose just 0.25%
“The job market is remaining resilient in the face of rising interest rates; as consumers continue to spend and inflation falls, companies, weary of letting go of needed workers, are finding other ways to cut costs. Many have slowed hiring”
-Andy Challenger, senior vice president of Challenger, Gray & Christmas
Shorten the Tunnel with Rellevate
Rellevate can help further reduce the costs associated with new hire salary increases by simply helping you retain your existing employees longer
Earned Wage Access (Pay Any-Day) is proven to increase shift coverage by 75%
Rellevate’s PayCard featuring Pay Any-Day Is A Simple Turn-Key solution specifically designed with:
✓ Up to 100% enrollment of your employee base (16 years and above)
✓ Immediate activation on day one of employment, no credit checks
✓ Zero Cost: with free implementation and onboarding, Rellevate’s On Demand Pay is the perfect payday solution for you and your employees
Rellevate is one of the most trusted and rapidly growing Fintech companies in the payments industry ($1 billion in volume and 3 million accounts in the last 12 months)
