(NewsNation) — Millions of Americans have switched jobs since the start of the pandemic and according to a new report, most saw their earnings increase even when taking inflation into account.

The vast majority of workers (60%) who changed jobs over the last year saw their real earnings increase compared to the year prior, the Pew Research Center found.

For those who stayed with their employer, only 47% saw their real wage increase between April 2021 and March 2022, according to the report.

The new analysis suggests the “Great Resignation” is paying off for those willing to take the risk and try something new.

Historically, data shows “job switchers” typically see higher wage growth than “job stayers”, and there are indications that gap is becoming even more pronounced.

In June, the 12-month moving average of median wage growth (not adjusted for inflation) hit 6.4% for job switchers, compared to just 4.3% for job stayers, according to the Federal Reserve Bank of Atlanta.

In fact, with skyrocketing inflation taken into account, the median worker that stayed at their job has actually lost wages over the last year.

From April 2021 to March 2022, the median job stayer experienced a wage decrease of 1.7%. Meanwhile, half of the workers who changed jobs saw their pay increase 9.7% or more from the year prior, Pew found.

Almost half of those who changed employers switched industries completely — a trend that could partially explain the increase in earnings for job switchers.

Despite the good news for those changing employers, real average hourly earnings have fallen 3.6% across the board over the past year. For that reason, inflation continues to be the top concern for American voters, according to the most recent NewsNation poll released this week.

Pew’s report comes as economists continue to try and make sense of a labor market that has remained resilient despite federal interest rate hikes and waning consumer confidence.

In June, the unemployment rate sat at 3.6% for a fourth straight month, matching a near 50-year low and on par with pre-pandemic levels. American employers also added 372,000 jobs last month.

Pew found that roughly four-in-10 workers think it would be easy to find a new job if they looked today.

It’s that sort of confidence in the labor market that has the Biden Administration, Fed Chair Jerome Powell and Treasury Secretary Janet Yellen insisting that the United States is not in a recession despite the nation’s economy contracting for two straight quarters.

NewsNation’s own polling found that nearly half of Americans said they are worse off financially today than they were a year ago. Only one in five respondents said they are better off today.

All eyes are now on July’s jobs report, which will be released next Friday.