Job satisfaction has fallen to a record low in the United States, according to the New York Federal Reserve’s SCE Labor Market Survey released on Tuesday, with workers reporting the weakest appetite for switching employers since 2021.
The share of workers expecting to move to a new employer fell to 9.7%, the lowest in five years. Satisfaction with wage compensation and promotion opportunities both hit their lowest levels since the survey began in 2014.
The number actively searching for a job also slipped, declining to 22.5% from 23.8% in November 2025, with the steepest pullback among workers under 45 and women.
Nowhere To Go
Workers without a college degree drove the pullback in job mobility. Yet workers are not willing to move cheaply. The average reservation wage rose to a series high of $84,762 in March, the largest increases coming from men and college-educated respondents. Real average hourly earnings rose just 1.4% over the past year, per the Bureau of Labor Statistics, while after-tax corporate profits reached $3.59 trillion by the third quarter of 2025, per Federal Reserve data.
AI Is Thinning The Options
The reluctance to job-hunt may reflect a shrinking market.
Moody’s Analytics chief economist Mark Zandi has warned that AI adoption is already weighing on hiring, with outright job losses increasingly likely. Snap Inc. (NYSE:SNAP) recently announced cuts of roughly 1,000 jobs, citing AI productivity gains. Oracle Corp. (NYSE:ORCL) is also planning thousands of cuts amid AI-driven restructuring. For workers already dissatisfied, fewer openings make staying put the safer bet — even when the pay falls short.
The anxiety runs broader than AI. U.S. GDP grew just 0.5% in the fourth quarter of 2025, and ADP chief economist Nela Richardson noted that only 28% of workers feel their jobs are safe from elimination.
Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.
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