High wage expectations - Saudi border abuse - Wind-powered ships return

Source: Bloomberg

1. Summary
   A survey of American workers released Monday by the Federal Reserve Bank of New York found that workers expect an annual salary of $67,416 upon being offered a job. The figure is a sharp increase from last year's $60,310. The expectations match the average wage offer respondents actually received: $69,475, compared to $60,764 last year. The survey uses a nationally representative sample of about 1,000 respondents.
   
   The report found that the expected increase was "broad-based across age, education, and income groups" but "most pronounced for respondents above age 45 and for college graduates." The survey also found that the reservation wage, or the lowest salary respondents would accept to switch to a new job, hit a record of $78,645.
   
   The findings come even as the number of respondents who recently changed jobs declined from last year. Some believe the survey shows that continued wage growth is also sustaining inflation. Fed research from last month indicates recent wage growth is not a major driver of inflation.

   Highly-rated - last 48 hrs
   NY Fed finds record wage expectations in July consumer survey.
   Reuters (Center) • Factual Grade 72% • 3 min read
   

1. Different political viewpoint
   It's just money: American Airline pilots get 21% pay hike now, 46% over four years.
   Hot Air (Right) • Factual Grade 69% • 4 min read

1. Selected long-read
   Wages and employment do not have to decline to bring down inflation. (2022)
   Center for American Progress (Left) • Factual Grade 72% • 8 min read

Former neonatal nurse Lucy Letby was sentenced to life in prison on Monday for murdering seven babies and attempting to kill six others. Letby is the UK's most prolific child serial killer in modern history. She was...

Full summaries, images, and headlines for subscribers only.
One payment. Once a year. $25

Upgrade Now

In a 73-page report published Monday, Human Rights Watch alleged that Saudi Arabia's border guards systematically killed hundreds and potentially thousands of migrants since...

Full summaries, images, and headlines for subscribers only.
Free your time. Get rid of multiple news feeds.

Upgrade Now

A cargo ship set sail from China this week to test the viability of wind power in commercial shipping. The Pyxis Ocean is retrofitted with two 123-foot high sails and will rely partially, but not totally, on wind to get...

Full summaries, images, and headlines for subscribers only.
Just the facts. Just about $2/mth.

Upgrade Now