If you’re looking to hire a new employee, you should know that what employers are offering has risen dramatically in the past year. But what employees want has also gone up. That’s according to the Federal Reserve Bank of New York’s Center for Microeconomic Data July 2023 Survey of Consumer Expectations (via Reuters). The report parses respondents’ thoughts and expectations on inflation, household finances, and the labor market.

Regarding the labor market, the report found that both the salary being offered to employees to switch jobs and the salary employees say they expect have risen dramatically in the past year. READ MORE