The minimum wage for which people are willing to work in the U.S. has soared to nearly $80,000

A labor market survey conducted by the Federal Reserve Bank of New York showed an increase in the minimum desired salary in the U.S. to a record high of $78,645 per year. This means that people are not willing to change their current job for less pay. A year ago, the figure was $72,873 – a significant difference and, most importantly, it exceeds the 3.2% increase in the Consumer Price Index between July 2022 and July 2023.

The surveys were conducted among workers in the technology sector, who have been found to be the most vulnerable to the expansion of AI, the introduction of which is putting them out of work. According to current projections, AI will affect 300 million jobs worldwide, or 40% of the global workforce. People are trying to hold on to their jobs, but are slow to make concessions to employers on pay.

The actual average salary in the U.S. in the summer of 2023 was $69,475 per year, which is a lot less than job seekers are asking for – while it’s up 14% since last year. But the risk of becoming unemployed has also increased by 3% since then. And the likelihood of getting at least one new job offer in a quarter has fallen from 21.1% to 18.7% in July 2022. The number of job seekers under 45 has also fallen – by 5%.

You may be interested: 3 seconds of exercise 3 times a week is enough to increase your muscles by 11%