Sep 14, 2023 - Economy

A majority of job listings now include salary information, Indeed says

Data: Indeed; Chart: Axios Visuals
Data: Indeed; Chart: Axios Visuals

Thanks to an increase in state pay-transparency laws, slightly more than half of the listings on now include salary information, the highest share yet, per data from the jobs website out Thursday morning.

Why it matters: Job seekers appreciate salary transparency because it gives them an edge in negotiations over pay  employers are less fond, for the same reason.

  • Pay transparency is also seen as a way to reduce salary inequities for women and minorities.

Zoom in: New York state's pay-transparency law, which requires employers to disclose a salary range in a job listings, takes effect on Sunday. (New York City's law went into effect last year.)

  • But it's already changed things. The share of job postings in New York state that included salary information doubled in August to 61% from last year, per Indeed.
  • 81% of listings in Colorado featured salary info, making it the most transparent state. Its law took effect in 2021 — the first in the country.
  • Other states with a high share of salary info also have laws on the books, including California, where 70% of listings include pay details, and Washington state with 75%.

What they're saying: The new pay-transparency laws are making it harder for employers to retain employees, said TJ Freno, a vice-president at Orion Talent who helps manufacturing companies with hiring.

  • Current employees see job listings for the same role they're doing at higher pay, and they're demanding raises — and often companies are unwilling to budge. "It's becoming a very big concern," he said.

What to watch: Indeed predicts that the line in that chart will keep climbing up and to the right, as New York's law goes into effect  and more states and locales follow suit.

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