In recent months, pay has grown at a relatively steady pace for both job-stayers and job-changers for the past several months. But this data tracks only two subsets of the working population. If we zoom out to get a bigger picture, we see that pay for new hires—that big group of people who are brand new to a particular employer—has been stagnant for more than a year. When it comes to pay, new hires are in a rut.