Main Street Macro: North pole wage report

Did you ever wonder how much Santa Claus makes? Turns out it’s a little more than $35 an hour.

And how do I know this?

The latest issue of Today at Work from the ADP Research Institute explains. As 2023 draws to a close, we couldn’t pass up the opportunity to use our statistical model of job titles and wage percentiles to estimate the pay trends of hypothetical holiday gigs.

It’s a pretty cool tool, but the new issue of Today at Work has even more to offer. In it, our team examines the return of student loan payments and how that debt might affect employee turnover. We explore stress in the workplace, both good stress that energizes employees, and bad stress that drains employee motivation. 

Finally, this quarter’s issue measures the effect of HR hiring on retention, and dives deep into trends that currently define nursing, a critical frontline occupation. This will be the last MainStreet Macro post of 2023. We here at the ADP Research Institute wish you and yours a very happy and healthy holiday season. We’ll be back in this space in January.