from the New York Fed
The Federal Reserve Bank of New York’s Center for Microeconomic Data released the March 2019 SCE Labor Market Survey, the proportion of individuals who reported searching for a job in the past four weeks increased to 24.3 percent in March 2019, up from 22.7 percent in November.
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Additional points:
- The average full-time offer wage received in the past four months displayed a notable jump to a series high of $66,415 in March, up from $58,035 this past November.
- The average expected the likelihood of receiving at least one job offer in the next four months increased to 25.7 percent, up from 22.6 percent in November. This is the highest value of the series since the survey’s inception in July 2014; the increase was most pronounced for respondents without a college degree.
About the SCE Labor Market Survey
The SCE Labor Market Survey, fielded as part of the Survey of Consumer Expectations (SCE), provides information on consumers’ experiences and expectations regarding the labor market. Every four months, SCE panelists are asked details about their current (or most recent) job. Respondents are asked about job transitions, and about their job search effort and outcomes (number of job offers and offer wages), over the last four months. The currently employed are also asked about their level of satisfaction with wages, non-wage benefits, and their prospects for advancement at their current job. In addition, the survey elicits respondents’ expectations about job transitions over the next four months. Respondents are asked about the likelihood of receiving at least one job offer over the next four months, the expected number of offers, and the expected wages for these offers. The survey also elicits the respondents’ “reservation wage” and retirement expectations.
More information about the SCE survey goals, design, and content can be found on the webpage for the Center for Microeconomic Data.
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