Worker Pay Satisfaction Reaches Lowest Level Since 2014, Despite Reluctance to Switch Jobs
Worker pay satisfaction has reached its lowest level since 2014, according to the New York Federal Reserve's labor market survey. Despite dissatisfaction with wages and promotion opportunities, workers are less likely to switch jobs, with the expected likelihood of job changes at 9.7% in March 2026. This trend may suppress wage competition and impact consumer spending as inflation outpaces pay growth.
Topics: employment stability job market labor trends promotion opportunities wage satisfaction