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Americans’ Pay Floor for Accepting a New Job Rises to $73,000

The average reservation wage, or the lowest pay level that Americans would be willing to accept for a new job, rose by 5.7% from a year earlier to $72,873 in July, according to the latest labor-market survey by the Federal Reserve Bank of New York, as soaring prices change the calculus for workers.

The self-reported reservation wage has climbed faster among men and younger workers since the pandemic began, according to the New York Fed’s survey, which is conducted three times a year. The overall figure was down slightly from a series high of $73,283 in the last study in March.