Center for Microeconomic Data

At a Glance: Findings from the March SCE Labor Market Survey
  • The proportion of individuals who reported searching for a job in the past four weeks increased to 25.1 percent, from 23.1 percent in November 2023, marking the highest reading since March 2014. The increase was driven by men, respondents over age 45, and those without a college degree.
  • Satisfaction with wage compensation and nonwage benefits declined by 3.1 and 3.7 percentage points, respectively. Satisfaction with promotion opportunities at respondents’ current jobs was essentially unchanged.
  • The average reservation wage—the lowest wage respondents would be willing to accept for a new job—increased to $81,822, a new series high, from $73,391 in November 2023. This increase was most pronounced for men, respondents aged 45 and under, and those with an annual household income above $60,000.
  • The average expected likelihood of working beyond age 62 declined to a new series low of 45.8 percent in March 2024. The average expected likelihood of working beyond age 67 also declined, to 31.2 percent.

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 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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