The higher wage expectations are a reflection of this current moment in the economy and the labor market, said Julia Pollak, chief economist for online job marketplace ZipRecruiter.
“It largely explains what we’ve been seeing during this summer of strikes and unions pushing for higher wages; and, of course, wages follow inflation, and part of the reason that workers are expecting higher wages is because prices have risen 17.5% since the pandemic,” she said.
Men and college grads demand moreWhile reservation wages rose for workers across the board, some groups’ demands are significantly higher than others: For college graduates and men, the wage floors were $98,644 and $91,048, respectively.
Women’s reservation wages set a record as well, but at $66,068 — $12,500 below the average and nearly $25,000 below men’s expectations.
“Especially in male-dominated industries, women may just not know what the going rate is and underestimate,” Pollak said.
Persons:
they’d, —, Julia Pollak, they’ve, ” Pollak, they’ll, that’s, Nina Roussille, who’s
Organizations:
Minneapolis CNN, Federal Reserve Bank of New, Massachusetts Institute of Technology
Locations:
Minneapolis, Federal Reserve Bank of New York, York, Hired.com