American workers say it would take more money than ever to persuade them to accept a new job, as uncertainty in the labor market makes switching employers a potentially bigger risk, Business Insider reports.
The average reservation wage — the lowest salary a worker would be willing to accept for a new position — reached a record $88,387 in July 2026, according to the Federal Reserve Bank of New York’s latest Survey of Consumer Expectations Labor Market survey. That figure has increased by more than $10,000
since March 2025.The increase was most pronounced among men, college graduates, and workers younger than 45, according to the New York Fed. The survey, updated every four months, tracks Americans’ experiences and expectations involving earnings, job searches, employment transitions, and job offers.
The record salary threshold comes as workers appear increasingly cautious about their prospects of securing another position. The average expected probability of receiving at least one job
offer within the next four months fell 1.1 percentage points to 18% in July, the lowest level since March 2021. The decline was largest among women, people without college degrees, and workers younger than 45.Meanwhile, more Americans are testing the job market. The share of respondents who said they searched for a job during the previous four weeks increased to 24.9% in July from 22.5% in March 2026. The increase was most pronounced among people earning less than $60,000 annually.
The findings illustrate a complicated environment for workers weighing whether to remain with their current employer or pursue another opportunity. Business Insider reported that concerns surrounding layoffs, a challenging hiring environment, and artificial intelligence have made changing jobs feel riskier for some employed workers.
Some measures of satisfaction among employed workers improved. Satisfaction with wages increased 2.9 percentage points from March, while satisfaction with nonwage benefits rose 3.6 percentage points. Satisfaction with promotion opportunities increased 0.9 percentage points. Still, satisfaction with wages and advancement opportunities remained near the record lows recorded in March 2026.
The results suggest workers may increasingly expect a larger financial incentive before assuming the uncertainty that comes with changing employers.
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