Americans ask for more than $78,000 to work, according to Federal Reserve survey

American workers demand about $79,000 per year to work, according to a survey by the Federal Reserve Bank of New York.

According todatapublished, the average reservation wage - the lowest annual wage that workers would accept for a new job - rose to$78,645in July, a figure is higher than $72,900 the previous year and $69,000 in July 2021.

The survey also found that the salary expectations of working women increased by 11% last year, double those of men.

Still, there is a substantial gender gap regarding an acceptable salary. For men, theaverage reservation wageIt was about $91,000, and for thewomen is$25,000 less.

The workers with a college degree They now expect $98,600 annually to take a new job, compared to an average of $63,300 for those without one.

For comparison, themedian household incomeAmericans was $70,784 in 2021, according to the US Census Bureau.

While U.S. employers added 187,000 jobs last month, following a similar increase in June, theunemployment rateAt 3.5%, it is near the lowest level in decades and average hourly earnings rose 4.4% in June from a year earlier.

However, the data indicate thatthe labor market is slowing down and the average predicted probability of receiving multiple job offers in the next four months fell to 20.6%, down from 25.7% a year earlier.

In addition, American workers increasingly see the prospect of retiring earlier, suggesting that the pool of available labor could shrink, according to media reports.press.

The average expected probability of working beyond age 62 fell to 47.7% from 48.8% in July 2022, the lowest reading since the statistics began in March 2014.