(Reuters) – The average wage employers were willing to offer to workers surged to record levels in November, a report from the Federal Reserve Bank of New York said Monday.
The average full-time wage offering moved to $79,160 in November from July’s $69,475, the bank said in its Survey of Consumer Expectations Labor Market Survey. The November wage was the highest ever in a survey that dates back to 2014 and likely reflects ongoing labor market tightness, with firms being forced to pony up higher levels of cash to secure workers.
The jump in the offering wage came as workers trimmed their so-called reservation wage, which is the minimum pay level someone will take for a new job. That dropped to $73,391 as of last month, from July’s $78,645.
(Reporting by Michael S. Derby; Editing by Lisa Shumaker)
