4 ms·
The lowest pay workers would accept for a new job nears $74,000
- HarryHirsch 4y agoHas anyone looked at housing prices in areas with job growth? In Western MA, anything that isn't a builder special or in the ghetto will set you back at least 200 kUSD. If the government wants to control inflation, maybe it should stop insisting that the only policy around is monetary policy.
- maria2 4y agoHousing prices aren’t even part of the inflation calculation.
- fxtentacle 4y agoPrecisely that is the problem here.
- autotune 4y agoI am looking at $400 - $550K or so if I were to buy an apartment here in downtown Austin, which is something like right around $3700 a month or so with current interest rates, taxes, HOA fees, and the actual mortgage itself. My current salary has kept up fantastically with inflation to the point that affording it won't be a problem in a year or two when I buy, others, not so much.
- HarryHirsch 4y agoMan, those prices are eyewatering, and it wasn't always like that. One of these days it will be major employers putting pressure on the city to allow more construction because they cannot attract employees, except locally.
- entropicgravity 4y agoIf you think those prices are eye watering checkout Vancouver or San Francisco just to name a few.
- niij 4y agohttps://archive.is/OpIOG https://archive.is/OpIOG
- icedchai 4y agoSounds about right. That's like $40K in late 90's money, when I was getting out of college, right before the dot-com bubble. My first job out of college as a junior engineer paid $45K. I had asked for $50K, which they gave me 6 months later. This was middle of no where east coast.
- rahimnathwani 4y agoThr article title is misleading. The figure quoted is the mean reservation wage, not the lowest reservation wage. I wish they published the median - it would be more informative. They do publish the 'dispersion', although I'm not sure whether this is a min-max range or certain low/high percentiles: https://www.newyorkfed.org/microeconomics/sce/labor#/expectations-job-search16 https://www.newyorkfed.org/microeconomics/sce/labor#/expecta... It's interesting to compare the above with the chart that shows job offer wage expectations: https://www.newyorkfed.org/microeconomics/sce/labor#/expectations-job-search11 https://www.newyorkfed.org/microeconomics/sce/labor#/expecta... The first chart (required wages) have gone up faster than the second (expected wages for new job offers).