- NY Fed finds pay needed to accept a new job at $78,645 up from $72,873 a year ago
- Out of those employed four months ago, 91.4% still maintain their jobs, showing a marginal dip from 91.8% in July 2022.
- Only 19.4% reported looking for a job recently, down from 24.7% last year.
A New York Fed survey found that workers see a softening jobs market but are still expecting much higher wages if they switch jobs. As for actual offers, that rose to $69,475 from $60,764.
These are some scary numbers in terms of inflation and a wage-price spiral.
The survey is a monthly, nationally representative, internet-based survey of a rotating panel of roughly 1,300 household heads that has been conducted by the New York Fed since June 2013.