Workers want more money than ever to risk taking a new job
Data from the New York Fed indicates that the 'reservation wage'—the minimum pay workers demand to switch jobs—has reached a record high of $88,387. This trend reflects increased worker risk-aversion in an uncertain labor market and growing anxiety regarding the impact of AI on job security.
Why it matters
Rising reservation wages suggest that despite a cooling labor market, employees are becoming more selective and demanding, which could impact corporate hiring strategies.
Workers want more money to jump ship in an uncertain market. Bloomberg/Getty Images Even in this dreary labor market, workers say they'll need more pay than ever to take a new job. For workers with jobs, AI concerns and a gnarly job market make taking a new role riskier. That's paying off: Job switchers are once again seeing better wage growth. If you want to hire someone new, you've got to show them the money. Workers say they want more money than ever for a new job. The latest data from the Federal Reserve Bank of New York shows that the reservation wage — the average lowest wage a respondent would be willing to accept for a new job — hit a series high in July 2026. Workers say their asking price is now $88,387, up over $10,000 from March 2025.
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