Expectations For Higher Wages Keep Going Up
New York FedThe New York Fed just released the results of its monthly Survey of Consumer Expectations.
One of the notable developments this month was a rise in expectations for earnings growth a year ahead in March to 2.4%, the highest level in the history of the survey, which began last year.
The survey breaks down responses based on demographic groups, so we can get an idea of who exactly is expecting higher wage growth over the next year than they were last month.
The charts below show earnings expectations based on age group, educational achievement, income level, and region.
In short, those between the ages of 40 and 60, with some college experience, making over $50,000, living in the Northeast United States drove most of the rise in wage growth expectations from February to March.
