Center for Microeconomic Data

At a Glance: Findings from the November SCE Labor Market Survey
  • The average annual salary of full-time workers increased to $69,181 in November 2019, up from $66,935 in July 2019. This is the highest value of the series since its inception in March 2014.
  • The proportion of individuals who reported searching for a job in the past four weeks fell to 16.2 percent in November 2019, down notably from 24.5 percent in July 2019. The decline was broad-based across age, education, and income groups.
  • The average reservation wage—the lowest wage respondents would be willing to accept for a new job—increased to a series high of $64,330 in November 2019, from $62,194 in July 2019. This increase was most pronounced for respondents with higher levels of education (at least a college degree).
  • The average expected likelihood of working beyond age 62 increased to 55.5 percent in November 2019, from 52.7 percent in July 2019.

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.