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 Indeed.com 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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