According to data from the Federal Reserve Bank of New York, the average minimum wage workers would accept for a new job, known as the reservation wage, reached a record high of $88,387 in July 2026. This represents an increase of over $10,000 from March 2025. The rise reflects workers' reluctance to switch jobs amid an uncertain labor market, with concerns about AI and job security. Despite a weak labor market, job switchers are experiencing better wage growth, indicating that higher pay is needed to entice workers to change roles.
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