Gender Wage Gap Persists as Job Seekers Demand Higher Salaries
Americans' wage expectations have reached record highs, with the average reservation wage for job seekers climbing to $78,645 in July 2023. This increase is attributed to the current state of the economy and labor market, as well as the rise in inflation. While wages have grown since the pandemic, they have not kept up with inflation or productivity, leading workers to expect higher wages. Interestingly, men and college graduates have significantly higher wage expectations compared to women, highlighting the gender pay gap and the need for better preparation and salary transparency for women in the workforce.