The average "reservation wage," or minimum acceptable salary offer to switch jobs, in the US reached a record high of $78,645 during Q2 2023, according to the New York Federal Reserve employment survey. This represents an 8% increase from the previous year and is the highest level ever recorded since 2014. The rise in wages is seen as a driving force in inflation, and while goods prices have slowed down, other factors are keeping inflation above the Fed's target rate of 2%. The survey also showed a decrease in job seekers and job openings.

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