Fewer Job Promotions Leave Entry-Level US Workers ‘High and Dry’

A main feature of the 2024 labor market is that fewer people are quitting their jobs. A lesser-known one is that fewer are getting promoted.

That leaves little room for new workers to break through, as the ranks of employees above them stay in place. And it makes it more difficult for young graduates to get their foot in the door.

“A rising tide lifts all boats, but a falling tide leaves the most entry-level folks high and dry,” said Aaron Terrazas, chief economist at Glassdoor.

Data from payroll firm ADP Research Institute showed the annual rate ...