A new survey promises to provide interesting details on labor force trends. The New York Fed's Survey of Consumer Expectations (SCE) Labor Market Survey will examine, every four months, labor market experiences, job transitions, job search efforts, job offers, offer wages, acceptable wages, wage satisfaction, retirement expectations, and much more.
The results from the July 2017 survey—the first to be released, with comparable quarterly data back to 2014—show that 17 percent of survey respondents (a nationally representative sample of adults) had received at least one job offer in the past four months. The average wage offered was $49,250. Among the currently employed, 10.5% expect to be working for a new employer within the next four months.
The minimum acceptable wage respondents would be willing to take for a new job is $57,964, the survey finds. Among college graduates, the minimum acceptable wage (reservation wage) is $76,610. Among those without a college degree, $47,202. There are many more juicy tidbits in the first data release, including findings by age, sex, and income as well as education.
Source: Federal Reserve Bank of New York, Just Released: Introducing the SCE Labor Market Survey
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