An Update on the Reservation Wages in the SCE Labor Market Survey

Gizem Kosar, Davide Melcangi and Sasha Thomas

No 20240819, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: The Federal Reserve Bank of New York’s July 2024 SCE Labor Market Survey shows a year-over-year increase in the average reservation wage—the lowest wage respondents would be willing to accept for a new job—to $81,147, but a decline from a series’ high of $81,822 in March 2024. In this post, we investigate how the recent dynamics of reservation wages differed across individuals and how reservation wages are related to individuals’ expectations about their future labor market movements.

Keywords: labor market; reservation wage; expectations; survey; Survey of Consumer Expectations (SCE) (search for similar items in EconPapers)
JEL-codes: J3 J63 (search for similar items in EconPapers)
Date: 2024-08-19
References: Add references at CitEc
Citations:

Downloads: (external link)
https://libertystreeteconomics.newyorkfed.org/2024 ... labor-market-survey/ Full text (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fednls:98693

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Liberty Street Economics from Federal Reserve Bank of New York Contact information at EDIRC.
Bibliographic data for series maintained by Gabriella Bucciarelli ().