NY. The lowest salary Americans said they were willing to accept to embark on a new job hit an all-time high in March, new data from the New York Federal Reserve showed on Monday.
The so-called median reserve wage was $81,822 in March, well above the $73,391 in the last report in November 2023, the regional Fed bank said, based on data compiled in its periodic Survey of Consumer Expectations.
The New York Fed said that increase was driven by men, respondents over 45 and those without college degrees.
The report also notes that satisfaction with salary and non-salary compensation decreased in March, while satisfaction with promotion opportunities remained stable.
Data from the New York Fed on wage demand has shown a solid upward trend in a context of inflationary pressures and tensions in the labor market.
Although inflation has been slowing, price pressures remain strong and are driving workers to seek higher wages, while a strong need for workers has given employees more power to get their wage demands met.
Despite the higher wages workers are seeking, the New York Fed found that employers were offering lower starting salaries, with a median offer of $73,668 in March, down from $79,160 in November.
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– 2024-04-16 06:30:19
