Workers in the US now want at least $76,000
to start a new job as minimum wage expectations
continue to rise in a red-hot job market
Business Insider,
by
Nidhi Pandurangi
Original Article
Posted By: NorthernDog,
4/19/2023 9:49:25 AM
American employers may need to fork out even bigger bucks to lure in workers. Employees' wage expectations have risen to a new high of $75,811 a year, according to the New York Fed's SCE Labor Market Survey in March. The reservation wage, or the lowest wage that someone would accept for a new role, is almost $2,100 higher than it was in November when the survey was last conducted, at which point the wage was $73,667. The survey asked respondents about the lowest wage or salary they would accept before taxes and other deductions if they were offered a job
Reply 1 - Posted by:
Highlander 4/19/2023 10:23:42 AM (No. 1451068)
More guaranteed unemployment. How many businesses are going afford $75k for entry level know-nothings? From my personal experience, college doesn't mean you know-it-all when you graduate.
21 people like this.
Reply 2 - Posted by:
Dodge Boy 4/19/2023 10:27:13 AM (No. 1451071)
And guess who will pay their higher wages? You and me. Wealth re-distribution at its best. If this goes, enjoy that 30 dollar steak.
12 people like this.
Reply 3 - Posted by:
sunshinehorses 4/19/2023 10:29:12 AM (No. 1451072)
Hubby doesn't even make that much ! ! That is $36/hr. Who are these people that won't accept a job at less than that??? Must be over educated liberals. People that actually make the economy work (blue-collar workers) don't make that much in most cases (yes there are some but most don't). I am retired and was just offered a job at $19/hr doing what I used to be paid $50/hr for before I retired. Nope, not doing it.
13 people like this.
Reply 4 - Posted by:
David Key 4/19/2023 10:38:51 AM (No. 1451080)
Gee I wish I had been paid anywhere near that for any job I had before I retired. I worked retail for forty five years and retired with zip in the way of a retirement fund. The majority of the time, and I worked as a salesman all the way up to regional manager when you factor in the required number of hours I had to work I made slightly above minimum as a salesman and as a manager I was a little better paid, again taking into account the number of hours I put in.
12 people like this.
Reply 5 - Posted by:
LeeBertie 4/19/2023 11:12:13 AM (No. 1451102)
Business Insider is NOT a reliable source.
Click on the blue link to see these findings from the actual March SCE Labor Market Survey, "according to the New York Fed's SCE Labor Market Survey in March".
1) "The average full-time offer wage received in the past four months increased to $62,088 from $59,834 in November 2022."
2) "The average reservation wage—the lowest wage respondents would be willing to accept for a new job—rose to a new series high of $75,811. The increase was driven by respondents ABOVE AGE 45 and those WITH AT LEAST A COLLEGE DEGREE."
3) "Conditional on expecting an offer, the average EXPECTED annual salary of job offers in the next four months declined to $58,710 from a series high of $61,187 in November 2022."
6 people like this.
Go to any fast food restaurant, the days of the $5 lunch are long gone.
8 people like this.
Reply 7 - Posted by:
TJ54 4/19/2023 11:35:44 AM (No. 1451112)
This flys in the face of all the layoffs I keep reading about: one of the largest accounting firms just laid off 3500 people
6 people like this.
Reply 8 - Posted by:
Californian 4/19/2023 11:38:53 AM (No. 1451117)
These are expectations not real numbers being paid. Expectations mean nothing.
I expect a trillion dollars a year at my next job. Go average that in to the total.
6 people like this.
Reply 9 - Posted by:
The Remnants 4/19/2023 11:44:36 AM (No. 1451120)
"red-hot job market" This contradicts the news items about layoffs that I've been seeing lately.
(Perhaps, the above poster and I get our news from different sources than The Business Insider.)
6 people like this.
Reply 10 - Posted by:
motorcycleboy 4/19/2023 11:53:48 AM (No. 1451125)
Don't worry, AI will come to the rescue soon enough.
What could go wrong?
5 people like this.
Reply 11 - Posted by:
stablemoney 4/19/2023 12:02:25 PM (No. 1451136)
The worker does not receive $75K. After social security, medicare, health insurance, and income tax withholding, the check will be about $50K on which to live. With the cost of transportation, clothes, food, utilities having already increased at 10% each of the last 2 years, and advancing more this year, employees are only getting by on this amount. This is for employees that actually leave their home and go to work. It is very noticeable that increases in minimum wages have done nothing but reduce the number of employees at stores. With a country 50% ignorant, led by the 25% that are communist, there doesn't seem much hope that there will ever be a reduction in inflation.
1 person likes this.
Reply 12 - Posted by:
MickTurn 4/19/2023 12:42:01 PM (No. 1451169)
Wish in one hand, Crap in the other, see which fills up first!
4 people like this.
Reply 13 - Posted by:
DVC 4/19/2023 12:50:09 PM (No. 1451183)
I was looking at some spray paint today....you know, in the cans with the rattle mixer. At the local Ace hardware a can of Krylon paint is $10.
Now THAT is a great example of inflation. It was about 99 cents when I was in HS, and about $3.49 just about 10 years ago.
EPA is making ALL paints and most other products dramatically more expensive with their evil and totally unnecessary "rules" which they invent from thin air as if they were laws.
So - with all the inflation, those dollars are shrinking to be nickels. So people want a lot more of those nickel-dollars.
3 people like this.
Reply 14 - Posted by:
anniebc 4/19/2023 1:13:42 PM (No. 1451216)
Depends on who they asked. The article is stupid on so many levels.
2 people like this.
Reply 15 - Posted by:
Venturer 4/19/2023 1:14:31 PM (No. 1451217)
I made $35 dollars a week at my first job and was damned glad to have a job.
2 people like this.
Reply 16 - Posted by:
EJKrausJr 4/19/2023 1:43:48 PM (No. 1451251)
Yeah, but can they get a fast food order correct? Hasn't worked so far.
0 people like this.
Reply 17 - Posted by:
Starboard_side 4/19/2023 1:56:11 PM (No. 1451265)
Talk about privilege!
0 people like this.
Reply 18 - Posted by:
WhamDBambam 4/19/2023 2:12:11 PM (No. 1451282)
Sinners in Hell want ice water, as I recall.
1 person likes this.
Reply 19 - Posted by:
XCenturion 4/19/2023 9:27:12 PM (No. 1451522)
Worker reparations?
0 people like this.
Below, you will find ...
Most Recent Articles posted by "NorthernDog"
and
Most Active Articles (last 48 hours)
Comments:
Bidenflation is fueling salary demands.