The wage premium that had shown up recently for job switchers in the Atlanta Fed's wage growth tracker fizzled in the last two months. Wage growth decelerated to 3.5% in May (using the three-month moving average) from 3.9% in March. Job stayers slid to 3.3% from 3.8% Job switchers dropped to 3.7% from 5.0%. https://www.atlantafed.org/research-and-data/data/wage-growth-tracker(Nick Timiraos)