A line chart spanning January 2007 to August 2025 shows the Vanguard employment growth rate (three-month moving average) for three income groups: those earning less than $55,000 per year, those earning between $55,000 and $102,000 per year, and those earning more than $102,000 per year. Two vertical bands indicate recession periods, one from January 2008 to June 2009 and one from March to April 2020 The employment growth rate for those earning less than $55,000 stood at around 0.4% to 0.6% before the recessions, dropped sharply after both recessions, and then rebounded. The growth rate for this income group has been higher over most of the past decade compared with the other two groups. The employment growth rates for the other two income groups—those earning between $55,000 and $102,000 and those earning more than $102,000—followed similar trajectories, but from lower initial employment growth rates and with much less magnitude in the movements. All three income groups show a decline in the employment growth rate beginning in late 2022, though the group earning less than $55,000 has seen an increase since March 2025.