The NY Fed poll, which covers people with jobs as well as those looking for work, shows workers continue to have leverage. The number of job openings was still at near record highs in February, and the average worker has been getting substantial pay raises (albeit not enough to keep up with inflation.) In fact, according to a separate survey by payroll company ADP, 70% of North American workers said they had considered a major career move at some point in the last year, including a temporary break, starting their own business, or changing industries, among other things. The job market is so hot that some economists are watching for signs that pay hikes are contributing to the rampant price increases we’ve all been seeing at the grocery store, the gas pump, and just about everywhere else by adding to demand. Have a question, comment, or story to share? You can reach Diccon at dhyatt@thebalance.com. Want to read more content like this? Sign up for The Balance’s newsletter for daily insights, analysis, and financial tips, all delivered straight to your inbox every morning!
