The lowest annual salary workers are willing to accept on average is the highest it's ever been.

According to the Federal Reserve Bank of New York labor market survey of consumer expectations, the lowest annual salary workers are willing to accept increased to $78,645 in July, up from $72,900 last year and $69,000 at the same time in 2021. The average expected likelihood of becoming unemployed increased to 3.9%, the highest number since March 2020.

Satisfaction Up Among Lower Income Respondents

This record high in average wage demand comes as employers added 187,000 jobs last month, following a similar increase in June. At 3.5%, the 澳洲幸运5官方开奖结果体彩网:unemployment rate is close to its lowest level in decades, while average hourly earnings rose 4.4% in June from a year ago.

Satisfaction has increased with those who make lower earnings, with wage compensation up 3%, non-wage benefits up 1.7%, and promotion opportunities up 4% from July 2022 to 59.9%, 64.9%, and 53.5%, respectively. 

According to the U.S. Census Bureau, the median US household income was $70,784 in 2021. Data for 2022 will be released next month.

Insecurities Linger

However, even with the increase in job satisfaction, the average expected likelihood of becoming unemployed among low-income respondents increased to 3.9% from 2.3% in July 2022, the highest number since March 2020. 

In addition, the average expected likelihood of receiving multiple offers in the next four months declined to 20.6% from 25.7% in July 2022, while the average expected likelihood of receiving just one offer in the next four months declined to 18.7% from 21.1% in July 2022.