- The proportion of individuals who reported searching for a job in the past four weeks declined to 19.4 percent from 24.7 percent in July 2022. Satisfaction with wage compensation, nonwage benefits, and promotion opportunities at current jobs all improved.
- The average full-time offer wage received rose sharply to $69,475.
- The average expected likelihood of becoming unemployed increased to 3.9 percent, the highest reading since March 2020.
- Conditional on expecting an offer, the average expected annual salary of job offers in the next four months increased to $67,416, the highest reading of the series. The average reservation wage (the lowest wage respondents would be willing to accept for a new job) reached its highest reading of $78,645.
For more details:
Press Release: SCE Labor Market Survey Reveals Share of Job Seekers Declines and Expected Likelihood of Becoming Unemployed Rises