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(The Hill) – Job satisfaction has shrunk to a new low in the U.S., according to a recent report released by the New York Federal Reserve on Tuesday. 

Workers reported the lowest likelihood of moving to a new employer in five years, falling to 9.7 percent. Reported satisfaction with job pay, benefits and promotion opportunities also decreased in the recent survey. 

Additionally, the number of people who reported looking for a job in the last four weeks slightly declined to 22.5 percent from 23.8 percent in November. 

The data follows a similar downward trend in polling about job satisfaction and hiring growth. 

In Gallup’s State of the Global Workplace report, which was released earlier this month, 47 percent of workers in the U.S. and Canada said it was a “good time” to find a new job. This number was a 10-percentage point decrease from last year’s report and 19-point decrease from 2023. 

The U.S. did add more jobs than expected last month, following significant reported job losses across the country in January and February. The jobless rate remained at 4.3 percent. 

The Fed report comes amid anxiety in the U.S. economy about rising energy rates resulting from the Iran war. Disputes between Tehran and the U.S. over control of the Strait of Hormuz has strained the flow of oil through the major trading corridor, spiking the price of international benchmark Brent crude oil. 

The price of a standard gallon of gas in the U.S. was up to an average of over $4 on Tuesday. 

These rising energy rates resulted in the highest inflation rate increase in nearly four years last month, with energy costs alone spiking by 10.9 percent. The price of fuel oil increased by 30.7 percent, gasoline costs by 21.2 percent and energy commodities by 21.3 percent, according to the Bureau of Labor Statistics. 

President Trump has insisted these hiked costs are only short-term pains. On Monday, he invoked a wartime measure on Monday to boost domestic production of oil, gas and coal to offset these rising costs. 

The Fed’s Survey of Consumer Expectations is conducted every four months and includes responses from around 1,300 heads of household.