SCE Labor Market Survey - FEDERAL RESERVE BANK of NEW YORK

Center for Microeconomic Data

 
 
SCE LABOR MARKET SURVEY (Mar 2025)
March Survey: Satisfaction Declines for Wage Compensation, Nonwage Benefits, and Promotion Opportunities
  • Satisfaction with wage compensation, nonwage benefits, and promotion opportunities declined by 1.1, 1.2, and 1.7 percentage points, respectively, in March. Satisfaction with wage compensation is at its lowest level since November 2021.
  • The average expected likelihood of receiving at least one job offer in the next four months decreased to 19.3 percent from 20.9 percent in November 2024.
  • The average reservation wage—the lowest wage respondents would be willing to accept for a new job—sharply retreated to $74,236 from a series high of $82,135 in November. This decrease was most pronounced for men and respondents over age 45.
  • The average expected likelihood of working beyond age 62 declined to 47.3 percent in March 2025. The average expected likelihood of working beyond age 67 also declined, to 31.6 percent.

About:
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.

infographic
 
  • Labor Market
  • EXPERIENCES
    • Earnings
    • Job Transitions
    • Job Search
      • Job Seekers
      • Number of Job Offers
      • Offer Wage
    • Job Satisfaction
      • Wage
      • Nonwage Benefits
      • Promotion Opportunities
    • Expected Job Transitions
    • Job Search
      • Job Offer Arrival Expectations
      • Job Offer Expectations
      • Job Offer Wage Expectations
      • Reservation Wage
      • Counteroffer Expectations
    • Retirement Expectations

Expected Job Transitions

Average expected likelihood of making a labor force transition in the next four months, for those currently employed

  • Overview
  • Demographics
 
 
Created with Highcharts 5.0.7PercentJul2014Nov2014Mar2015Jul2015Nov2015Mar2016Jul2016Nov2016Mar2017Jul2017Nov2017Mar2018Jul2018Nov2018Mar2019Jul2019Nov2019Mar2020Jul2020Nov2020Mar2021Jul2021Nov2021Mar2022Jul2022Nov2022Mar2023Jul2023Nov2023Mar2024Jul2024Nov2024Mar20250102030
To a new employer
Into unemployment
Out of the labor force
Source: New York Fed Survey of Consumer Expectations.
 
Note: Omitted status category is “Stay with same employer.”
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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