Workers are demanding a record $79,000 to take a new job
Happy Tuesday! It's Paul Davidson bringing you today's news.
Americans have lofty salary expectations these days.
Last month, the lowest annual wage that employees would accept for a new job rose to $78,645 on average from $72,873 a year earlier, according to a survey by the Federal Reserve Bank of New York. That’s the highest on record dating back to 2014.
There’s a big gap, though, between what workers say they'll take and what they’re actually getting. Average pay over the past four months was $69,475 – well below their theoretical minimum but significantly above the $60,764 they received a year ago. And the higher salary demands are defying a cooling job market in which fewer workers are job hunting and those who are realize the chances of getting an offer have edged down.
Perhaps employees’ expectations are so high because of big pay increases the past couple of years. Average U.S. wages were up 5.7% annually in July, according to the Atlanta Fed’s wage tracker.
The Federal Reserve is seeking to curtail wage growth to tamp down inflation.
Facebook users can claim settlement money by Friday
Need some extra cash?
Facebook users have until Friday to apply for their share of a $725 million settlement that parent company Meta signed late last year.
The agreement stems from 2018 lawsuits alleging that Cambridge Analytica, a British consulting firm, had gained access to the personal data of up to 87 million Facebook users, mostly in the U.S., as part of an effort to influence voters for clients including former President Donald Trump.
The settlement applies to nearly all Facebook users with an account between 2007 and 2022. It’s not clear how much money each user will receive because it’s uncertain how many will submit claims.
📰More stories you shouldn't miss📰
In search of a cool airbnb? This WWII era plane turned vacation rental may be the spot
Are salaried workers required to cross a picket line during a labor strike? Here's what happens
Lottery shock: Michigan woman had 'no idea' she won $2M from historic Mega Millions jackpot
Back-to-school shoppers adapt to inflation, quirky trends: Here's how you can save money
🍔Today's Menu🍔
Domino’s has a new menu item.
Its Pepperoni stuffed cheesy bread is filled with cheese and pepperoni, covered in a blend of cheese, and seasoned with garlic and parmesan.
The dish joins Domino’s lineup of cheesy breads featuring original, spinach and feta, and bacon and jalapeno.
The bread is included in Domino’s mix-and-match deal, which allows customers to choose any two or more menu items for $6.99 each.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.