The Great Resignation may be waning, but workers are still looking for a raise.
Since April of last year, people have searched for jobs that pay $20 per hour more than they’ve searched for jobs that pay $15 per hour, according to a new analysis from Indeed’s Hiring Lab. That’s a change from 2019 and 2020, when job searches on Indeed's platform that mentioned “$15” outnumbered those that mentioned “$20.”
Over the last year, searches for jobs with $20-per-hour wages have spiked more than 35%, while searches for $15 wages have fallen more than 57%, Indeed’s data shows. The portion of searches run in hopes of finding $25-per-hour pay has also risen.
In her analysis, Indeed Economist AnnElizabeth Konkel attributed the change to two factors: wage gains for hourly workers, which clocked in at 5.9% last month, and rising prices for everyday essentials like groceries and gas.
“Once job seekers know it’s possible to attain a higher wage, their expectations may shift and act as a pull factor in searching for a higher dollar amount,” Konkel wrote. At the same time, she added, inflation has made just about everything more expensive, pushing workers to seek higher pay.
Hourly employees aren't the only ones angling for a big payday. Survey data released last week by the Federal Reserve Bank of New York showed that the average reservation wage — the lowest paycheck a person is willing to accept for a new job — rose to $72,873 in July from $68,954 a year earlier.
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