{"id":2007564,"date":"2023-08-21T22:05:01","date_gmt":"2023-08-22T02:05:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-demand-nearly-80000-a-year-before-accepting-new-job-ny-fed\/"},"modified":"2023-08-21T22:07:37","modified_gmt":"2023-08-22T02:07:37","slug":"americans-demand-nearly-80000-a-year-before-accepting-new-job-ny-fed","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-demand-nearly-80000-a-year-before-accepting-new-job-ny-fed\/","title":{"rendered":"NY Fed: Americans want $80K\/year before taking new job"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Famericans-demand-nearly-80000-a-year-before-accepting-new-job-ny-fed%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2007564&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div data-post-content=\"true\" class=\"post_content\" id=\"post_content\">\n<p>The base salary level which American workers demand before accepting\u2064 a new job rose \u200cto a \u200dnew\u200b high this year, due to persistent inflation.<\/p>\n<p>The New York Federal Reserve reported\u2064 in its July employment survey \u200bon Aug. 21, that the average \u201creservation wage,\u201d or the minimum acceptable wage that\u2063 workers will take to \u2063switch jobs, rose to $78,645 in the second quarter of \u20632023.<\/p>\n<p>This is a year over year increase of about 8 percent and is the \u200blargest spike on record going back to early 2014.<\/p>\n<div class=\"shortcode\">\n<div class=\"border-comp-divider mb-4 mr-4 w-full max-w-[500px] border px-5 py-4 text-[16px] leading-[20px] text-[#262626] md:float-left\">\n<div class=\"mb-3 font-sans text-[16px] font-semibold uppercase leading-[19px] text-[#2F2F2F]\">Related Stories<\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\">\n            <a href=\"http:\/\/www.theepochtimes.com\/article\/americans-spending-expectations-fall-sharply-in-warning-sign-for-economy-4971690\">Americans&#8217; Spending Expectations Fall Sharply\u200d in Warning Sign for Economy:\u2064 New York Fed<\/a>\n          <\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">1\/9\/2023<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\">\n          <a href=\"http:\/\/www.theepochtimes.com\/article\/americans-spending-expectations-fall-sharply-in-warning-sign-for-economy-4971690\"><\/a>\n        <\/div>\n<\/p><\/div>\n<div class=\"mb-4 flex gap-2\">\n<div class=\"grow\">\n<div class=\"mb-1 line-clamp-2\">\n            <a href=\"http:\/\/www.theepochtimes.com\/article\/new-york-fed-reports-fewer-americans-are-changing-jobs-a-sign-that-the-labor-market-is-cooling-4683144\">New York Fed Reports Fewer Americans Are Changing Jobs, a \u2063Sign That the Labor\u2063 Market Is Cooling<\/a>\n          <\/div>\n<div class=\"text-comp-caption text-[14px] leading-[18px]\">8\/23\/2022<\/div>\n<\/p><\/div>\n<div class=\"shrink-0 basis-[120px]\">\n          <a href=\"http:\/\/www.theepochtimes.com\/article\/new-york-fed-reports-fewer-americans-are-changing-jobs-a-sign-that-the-labor-market-is-cooling-4683144\"><\/a>\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Since the pandemic\u200d hit in 2023, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-demand-nearly-80000-a-year-before-accepting-new-job-ny-fed\/\" title=\"NY Fed: Americans want K\/year before taking new job\">average minimum acceptable wage level<\/a>\u2063 has risen \u2062more than 22 percent, which is\u200d significant since wages increasingly are a major factor in inflation.<\/p>\n<h2>High Prices Impacting Wage Demands<\/h2>\n<p>Since March\u200c 2022, the \u200ccentral bank \u2062has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/a-tale-of-two-depressions-the-forgotten-and-the-great\/\" title=\"A Tale of Two Depressions: The Forgotten and The Great\">raised interest rates<\/a> to \u2062between 5.25 and 5.5 percent\u2014the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-weekly-jobless-claims-fall-to-712000\/\" title=\"U.S. Weekly Jobless Claims Fall to 712,000\">highest level<\/a> in more than 22 years\u2014to curb inflation.<\/p>\n<p>Despite \u2064overall inflation falling \u2062to\u2062 3.2 \u2062percent \u2063last month, from a high of \u20639.1 percent in June 2022, households nationwide are still struggling\u2062 with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/desantis-releases-his-10-point-declaration-of-economic-independence-policy-platform\/\" title=\"DeSantis unveils 10-point plan for economic independence.\">high\u2062 prices<\/a> and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/consumer-sentiment-weakened-sharply-in-november\/\" title=\"Consumer Sentiment Weakened Sharply in November\">rising borrowing rates<\/a>.<\/p>\n<\/p>\n<p class=\"BoxInline-container\">Other \u2064factors, such\u200c as\u200b rise in the price of food, housing, and gas, continue to keep the \u2063price of goods well above the Federal Reserve&#8217;s target\u2062 rate of 2 percent.<\/p>\n<p><div><\/div>\n<\/p>\n<p>U.S. consumers are increasingly also turning to credit cards and remaining\u2064 pandemic\u200c savings for basic spending, due to high prices.<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The average &#8220;reservation wage&#8221; in the US, which is the minimum acceptable salary for workers to change jobs, reached a new peak this year. This increase can be attributed to ongoing inflation, as reported by the New York Federal Reserve in its July employment survey on Aug. 21.<\/p>\n","protected":false},"author":327,"featured_media":2007565,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[],"class_list":["post-2007564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2007564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/327"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2007564"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2007564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2007565"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2007564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2007564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2007564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}