Workers want more money than ever to risk taking a new job

Workers want more money to jump ship in an uncertain market. Bloomberg/Getty Images Even in this dreary labor market, workers say they'll need more pay than ever to take a new job. For workers with jobs, AI concerns and a gnarly job market make taking a new role riskier. That's paying off: Job switchers are once again seeing better wage growth. If you want to hire someone new, you've got to show them the money. Workers say they want more money than ever for a new job. The latest data from the Federal Reserve Bank of New York shows that the reservation wage — the average lowest wage a respondent would be willing to accept for a new job — hit a series high in July 2026. Workers say their asking price is now $88,387, up over $10,000 from March 2025. It's a stark figure in a labor market that's shown signs of weakness. Why are workers demanding more in a market that wants to offer them less? The soaring reservation wage shows how strongly workers may be clinging to their current roles and how risk-averse they've become. Demands for a higher pay package align more closely with the hiring environment for those already gainfully employed, and dipping their toes into the job hunt. During t