{"id":2006787,"date":"2023-08-21T11:16:02","date_gmt":"2023-08-21T15:16:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ny-fed-finds-record-wage-expectations-in-july-consumer-survey\/"},"modified":"2023-08-21T11:20:13","modified_gmt":"2023-08-21T15:20:13","slug":"ny-fed-finds-record-wage-expectations-in-july-consumer-survey","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ny-fed-finds-record-wage-expectations-in-july-consumer-survey\/","title":{"rendered":"July consumer survey by NY Fed reveals record-high wage expectations."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fny-fed-finds-record-wage-expectations-in-july-consumer-survey%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2006787&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>Surge in American Workers&#8217; Pay Expectations<\/h2>\n<p>By \u200cMichael S. Derby<\/p>\n<p>NEW YORK (Reuters) \u2013 American workers\u2019\u200d expectations for pay surged in July, even as those same workers foresee a modestly less <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cities-in-blue-states-have-worse-labor-market-rebounds-than-those-in-red-states\/\" title=\"Cities In Blue States Have Worse Labor Market Rebounds Than Those In Red States\">robust job market<\/a>, said a \u2064survey released Monday by the Federal Reserve Bank of New York. \u200b <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Respondents told \u2062the bank that they\u2019d expect an annual salary offer of $67,416 upon being offered a job, a record reading in a survey that started in 2014, up from the $60,310 reported a year \u2064ago. \u201cThe increase \u2062was broad-based across age, education, and income groups, \u2064but was most pronounced for respondents above age 45 and for college graduates,\u201d the report said.<\/p>\n<p>Meanwhile, respondents to \u200bthe bank\u2019s Survey of Consumer Expectations said that the lowest\u2064 wage they\u2019d accept to take a job also jumped, hitting\u2063 a record $78,645, from\u200c $72,873 a year ago.  \u200b  <\/p>\n<p>The pay \u200bworkers are expecting was not from\u2064 what they\u2019re actually getting. The survey said\u200c that survey respondents said that in July the\u2062 average wage offered for a full-time job\u200c was \u200c $69,475 versus $60,764 in July 2022.\u2063 <\/p>\n<p>The jump in compensation, actual and expected, came even as poll respondents saw some\u2062 softening around the edges of the job market. The survey found\u200d that relative to a\u200b year ago there\u2019s \u200dbeen a small decline in those who said they\u2019d changed jobs, as well as a reduction\u200b in the number of people who said they were searching for new work. \u2063 <\/p>\n<p>Looking ahead, respondents said the probability of them\u2062 moving\u2063 to a new employer stood at 10.6%, down from 11% in the July 2022 survey. Respondents also said \u2062they see the chances of receiving a job offer in the next four\u200d months as lower.<\/p>\n<p>The New York Fed reports on labor\u200b market expectations quarterly as part of a data series best known for tracking the expected path of \u2062inflation and household financial situations. The latest data comes just days before \u200bFed officials gather with other <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ny-fed-finds-record-wage-expectations-in-july-consumer-survey\/\" title=\"July consumer survey by NY Fed reveals record-high wage expectations.\">world top financial authorities<\/a> at a research conference to be held in Jackson \u2062Hole, Wyoming. <\/p>\n<p>Fed officials are continuing to grapple with \u2064whether they need to press forward with interest rate\u200b increases at a time when inflation\u2062 remains high \u2062but is falling. Even with a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-economists-inflation-eroding-most-americans-wage-gains\/\" title=\"Fed Economists: Inflation Eroding Most Americans\u2019 Wage Gains\">historically aggressive campaign<\/a> of rate rises economic growth and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-labor-productivity-dips-and-costs-surge-in-first-quarter-2023\/\" title=\"US labor productivity falls, costs rise in Q1 2023.\">labor markets remain strong<\/a>. <\/p>\n<p>The New York Fed data suggests risks remain that wage gains and expectations of pay increases \u200ccould keep some upward pressure on inflation, which could keep alive the prospect that the central bank may have to raise rates further <\/p>\n<p>That\u2064 said, there\u2019s been an active debate over how much rising wages are \u2064a driver of inflation in a time where many other parts of the economy have been working through disruptions caused by the coronavirus pandemic. <\/p>\n<p>A recent Cleveland Fed paper, noting the strong job \u2063gains, framed them \u200bas \u2063reactive to \u2062economic events, saying \u200d\u201c\u00a0we find that the increase in wage growth largely reflects the pass-through of \u2063higher inflation and does not reflect labor\u200d market \u200bimbalances.\u201d The paper\u2019s authors expect wage gains to moderate. <\/p>\n<\/p>\n<p>  (Reporting by Michael S. Derby; Editing by Chizu Nomiyama)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/ny-fed-finds-record\/attachment\/file-photo-people-walk-by-the-federal-reserve-bank-of-2\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Honoring Shelter Dogs \u2064on International Homeless Animal\u2063 Day<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Major Headlines in the\u200c U.S. This Week<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Interview with California \u2064Senate Candidate Eric Early<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Suspected North Korean Hackers Target U.S.-South Korea Military Exercise<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Investigation \u200dinto Autonomous Vehicles Operated by General Motors<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>U.S. Air Force Backing for JetZero&#8217;s Demonstrator<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>EU Antitrust Approval Required \u2062for\u2063 Qualcomm&#8217;s Planned Acquisition<\/h3>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to a survey by the Federal Reserve Bank of New York, American workers anticipate higher pay in July, despite predicting a slightly weaker job market. Respondents stated that they would expect an annual salary offer of $67,416.<\/p>\n","protected":false},"author":66,"featured_media":2006788,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2006787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2006787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2006787"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2006787\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2006788"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2006787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2006787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2006787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}