Center for Microeconomic Data

At a Glance: Findings from the November SCE Labor Market Survey
  • Among respondents who were employed four months previously, 95.3 percent were still employed in November, compared to 88.9 in July 2020 and 96.7 percent in November 2019. This increase was due to a decline in transitions into unemployment (from 10.5 percent in July to 0.8 percent). Among those who were employed four months ago, transitions out of the labor force also increased, rising from 0.7 percent in July to 4.0 percent in November. This increase was most pronounced among women and respondents without a college degree.
  • The average expected likelihood of moving into unemployment over the next four months, for those who are currently employed, remained essentially unchanged at 3.6 percent.
  • The average reservation wage—the lowest wage respondents would be willing to accept for a new job—increased to $68,200 in November, up from $64,225 in July. The increase was broad-based across age, education, and gender groups.

For more:
The SCE Labor Market Survey is fielded every four months as a rotating module of the Survey of Consumer Expectations (SCE). The data are updated online three times per year as results come in, and an annual New York Fed press release, issued following the July survey, highlights notable changes and trends.

Fielding the Survey
The SCE Labor Market Survey, fielded every four months as part of the Survey of Consumer Expectations, collects information on individuals' experiences and expectations with respect to earnings, job transitions, and job offers, among other topics. The results of the November 2018 survey show that the average full-time offer wage rose to $58,035, up from $52,590 in July.
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