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Citing the results of its July 2025 Survey of Consumer Expectations, the Federal Reserve Bank of New York reported that just 87.1% of respondents who were employed four months ago were still employed in July, the lowest reading since July 2020. Workers are increasingly dissatisfied with their wages. Just 53.7% of respondents reported they were satisfied with wages at their current job, a low for the series. The average reservation wage (the lowest wage at which respondents would accept a new job) stood at a record $82,472 in July 2025, up from $74,236 in March 2025.
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