Multiple Job Offers Are Increasingly Common, Poll Shows

Number of the Day: The most relevant or interesting figure in personal finance

Number of the Day

That’s how many people got at least four job offers in the last four months, the most since at least 2014, according to a new survey underscoring how good the job market is these days. 

The statistic, from March survey results released Monday, has more than tripled since the early days of the pandemic and is higher even than the more typical period before COVID-19 struck. The Federal Reserve Bank of New York has been surveying people about the labor market every four months since 2014. All told, 19.7% of those surveyed in March reported at least one job offer, the biggest share since the pandemic hit. 

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!

Article Sources

  1. Federal Reserve Bank of New York. “SCE Labor Market Survey.” Under Labor Market, choose Experiences, Job Search, and then Number of Job Offers.

  2. Bureau of Labor Statistics. “Table 1. Job Openings Levels and Rates by Industry and Region, Seasonally Adjusted - 2022 M02 Results.”

  3. ADP Research Institute. “People at Work 2022: A Global Workforce View.” Page 9.