Jobs
The Lowest Pay US Workers Will Accept for a New Job Soars
- Individuals require about $81,800 to change jobs: Fed survey
- Increase most pronounced for men and younger workers
A job seeker attends an employment and resource fair in Long Beach, California.
Photographer: Eric Thayer/BloombergThis article is for subscribers only.
The lowest compensation that job searchers are willing to accept for a new position increased to the highest in data back to 2014, according to the Federal Reserve Bank of New York.
The regional Fed bank’s survey found that individuals now require, on average, more than $81,800 to change jobs. In March 2021, just as inflationary pressures started to mount, workers were willing to switch jobs for about $10,000 less.