3 ms·
Thr 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 b
by rahimnathwani 4y ago
Thr 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).