Despite historically low unemployment rates, a growing number of American workers express dissatisfaction with their wages, with younger and lower-income employees feeling the pinch the most, a new Pew Research Center study reveals.
The survey, conducted in October with over 5,200 employed adults, highlights a stark contrast: while 69% of workers feel secure in their jobs, only 30% report high satisfaction with their pay—a decline from 34% the previous year. Rising costs of living are a primary concern, with 80% of those unhappy with their wages stating their pay hasn’t kept up with inflation.
White workers and older employees are among the most content with their overall job situation. More than half (55%) of White workers say they are extremely or very satisfied with their jobs, compared to 43% of Black workers and 42% of Asian workers. Similarly, 67% of workers aged 65 and older report high job satisfaction, whereas only 43% of those aged 18-29 feel the same.
Income levels also influence satisfaction. While 54% of upper-income workers express high job satisfaction, just 42% of lower-income employees share that sentiment. Among those dissatisfied with their pay, 69% of lower-income workers say they struggle to cover basic expenses compared to 51% of middle-income and 30% of upper-income earners.
Despite concerns about wages, most workers are not actively seeking new opportunities. About 63% say they are unlikely to look for a new job in the next six months. However, finding better employment may not be easy—52% of respondents believe it would be difficult to land a desirable new position, up from 37% in 2022. This sentiment is particularly strong among younger workers and those with lower incomes.
The study also sheds light on workplace dynamics. More than half of workers report being satisfied with relationships with their co-workers and supervisors. Yet, only 26% express satisfaction with opportunities for promotion, underscoring a lack of upward mobility for many employees.
While the majority of workers feel secure in their current roles, the strain of stagnant wages in an inflationary environment underscores a persistent challenge for the U.S. workforce. As economic pressures mount, these frustrations may signal deeper issues in job satisfaction and financial stability for millions of Americans.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].