Posted on 08/21/2023 8:46:23 PM PDT by Olog-hai
The lowest wage that American workers are willing to take in order to accept a new job hit a record high this year, according to a Federal Reserve Bank of New York survey published Monday.
The average “reservation wage” — or the minimum acceptable salary offer required for workers to switch jobs — hit $78,645 during the second quarter of 2023, according to the Fed’s latest survey of consumer expectations.
That marks a nearly 8% increase from the same time last year when the average reservation wage hovered around $72,873.
The year-over-year increase was most pronounced for workers over the age of 45.
Workers with a college degree now expect a $98,600 annual salary in order to take a new job while those without one indicated they would not accept a salary below $63,300.
The extremely tight labor market has allowed workers to quit their jobs in favor of better wages, working conditions and hours — a trend dubbed the “Great Resignation.” The Labor Department reported this month that the economy had 9.6 million positions open at the end of June, meaning there are roughly 1.6 posted jobs for every unemployed worker. …
(Excerpt) Read more at foxbusiness.com ...
Coming right up......McDonalds and Burger King paying each worker 63,000.....Flipping burgers never sounded soooo good....
What a misleading article! A white male age 45 either a skilled blue collar worker or middle management is probably making $65,000 plus benefits-the $70,000 salary is the minimum he would accept to change jobs.
It does not say anything about an entry level job for a high school student. Although in downeast Maine, entry level jobs at McDonalds are about $16-$18 an hour and includes a tuition reimbursement plan
Trump deserves credit for salary increases. It’s an impact his policies have had on the economy. From 2009-2011, college grads could be making $10-$15 an hour or $30 grand.
Inflation is hitting everyone...
Thanks.
> Workers now demanding nearly $80K to start new job <
Wow. That’s around $40 an hour. My first real job was in 1972. I made $2.50 an hour. That’s about $18 an hour in 2023, after factoring in inflation.
I feel that I’ve been ripped off! I demand back pay, an apology, and a food voucher.
Oh, and free ice cream too. That would be nice.
And some participation trophies. I never got one of those and I hear there are people with shelves full of them.
When the whiners' tofu, arugula, and quinoa run out, and they're down to seeds and stems again too, they'll be singing a different tune.
Yup. A lot of them are like that. Journalism is propaganda these days more than ever before. Don’t just report it, make it up and twist it as much as you can.
They’re only quoting the Federal Reserve Bank of NY.
Certainly misleading to title the headline “Workers”. But hey, the junior Murdochs have been in charge since 2011.
What were you doing?
In 1970, 15 years old, I started at $3.50 an hour doing farm work.
By 1971 was at $5 and hour, 1972, $7 an hour.
In addition to shoveling cow crap and haying, I was troubleshooting, repairing and maintaining the farm equipment.
Then went in the USAF.
In about 1974 (14 years old) I started working for my old man during the summers. He said “Well - I’d pay you what you’re worth, but I don’t think you’d work for that cheap. So how about $5 an hour?”
That’s because the various governments and programs pay them almost that much to sit at home.
I was floored when I read full time UPS Drivers (I assume with a few years seniority) were being paid something like 180k
Feb 1973 made 8$ per hour building Challenger yachts.
I was taught a skill earlier in life. I went on to military, Blue color work and earned a STEM degree, to go to white collar work. Retired at age 55.
I may be an exception, but if you work at it America will pay you well. Democrat USA will grind you into toilet paper pulp
If you can’t get beyond their political BS.
$8 back then is $57 in today’s depreciated dollars.
I read about that too. Can’t imagine what UPS delivery rates are going to be.
Is Fox Bi-Polar or WHAT?
It’s like there are TWO Foxes.
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