NY Fed survey finds the lowest pay acceptable for workers to take new jobs rise to $75,811 in March

Per Bloomberg

The New York Feds has released the results of a survey that determined to find the minimum amount that workers would accept for a new job. Compared to November, the survey found that the lowest pay acceptable rose by $2,100 to $75,811 in March.

The survey took a sample poll of respondents 45 and up with at least a college degree. It was also found that the likelihood of currently employed workers moving to a new job in the next four months increased to 12.5%.

The survey also found that the likelihood of currently employed individuals becoming unemployed sat at just 2.5%. It was also recently found that the number of available jobs in the US dropped below 10 million.

This was the lowest job availability since 2021.

The survey also found a decline in the satisfaction of the following.

Wage compensation
None-wage benefits
Promotional opportunities

The average full-time wage offer from November 2022 to March increased from $59,834 to $62,088. The survey also found that the reservation wage for men increased by $3,200 from November, reaching $88,900 in March.

In 2022, the median annual pay for American bachelor's degree holders was $52,000, which was the lowest drop it has ever been in the span of almost two decades. The drop was a 7.4% decline, signifying the steepest plunge since 2004.

High-school diploma holders saw a wage increase by 6%, reaching $34,320, the largest gain in over two decades.

A study by NBER also showed that CEOs with MBAs were more likely to decrease wages and revenue share. There was no evidence found that it was effective in improving the company's sales or productivity.

The study also suggested that there was no evidence that CEOs with degrees effectively increased "sales, productivity, investment, or export relative to the levels the company achieved before."

See flow at unusualwhales.com/flow.

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Resources:

Bloomberg

The New York Fed