Job Hunting Hits 10-year High Amid Worker Dissatisfaction: NY Fed Survey

People’s satisfaction with their current wages and other benefits were found to have deteriorated.

People wait in line to enter the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, New York, on Oct. 7, 2014. Shannon Stapleton/Reuters

A survey conducted by the New York Fed shows that more than a quarter of respondents were searching for jobs in July, the highest level in a decade, with a significant proportion of workers reporting a decline in job satisfaction.

The proportion of respondents in the SCE Labor Market Survey who reported searching for a job in July increased to 28.4 percent—the highest level since March 2014—from 19.4 percent in July 2023, the New York Fed said in an Aug. 19 statement.