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Business Observer Monday, Sep. 19, 2022 2 months ago

Report: Job seekers pursue a new minimum wage

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Meager wage gains and inflation are pushing workers to find work with higher minimums.

Forget $15 an hour. That’s so 2020.

Job seekers, according to a new report from job search website Indeed, more frequently look for jobs that pay $20 an hour, even $25 an hour.

“Throughout 2019 and much of 2020, the share of searches on Indeed mentioning ‘$15’ was greater than those mentioning ‘$20,’” the report states. “But that trend reversed in April 2021. Since then, the share of $20-related searches has outpaced searches mentioning $15.”

The survey found that through Aug. 14, the share of $20-related searches increased 35.5% year over year. By contrast, searches related to $15 have declined 57.3% over the same time period. Job seeker searches for ‘$25’ have risen as well, the report found. While smaller than those for $20, the share of $25-related searches has increased 122% year over year. Additionally, the share of searches for $25 beat out the share of $15-related searches through mid-June 2022. 

The survey cites two factors — nominal wage gains and inflation — as the main impetus for the search in higher-paying hourly wages. The search results also highlight how quickly the economy has shifted: less than three years ago, leading up to the pandemic, labor groups, unions and other organizations had been looking to raise wage floors, nationally and in many states, to $15 an hour. In Florida, the push worked, as a new law calls for the state to raise its minimum hourly wage to $15 by 2026. It’s also going up to $11 an hour, from $10, as of Sept. 30.

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