Americans Expect Unemployment Rise to Pandemic Highs, NY Fed Survey Finds
Americans Expect Unemployment Rise to Pandemic Highs, NY Fed Survey Finds

Americans Expect Unemployment Rise to Pandemic Highs, NY Fed Survey Finds

News summary

A recent survey by the Federal Reserve Bank of New York reveals that American consumers' expectations of rising unemployment have reached their highest level since April 2020, with 44% anticipating higher joblessness over the next year. Concerns about job security have also increased, with 15.7% of respondents feeling they might lose their jobs—a 12-month peak. The survey indicates that these worries are particularly pronounced among individuals earning under $50,000 annually. Economic uncertainty, driven by shifting federal policies and tariff-related factors, is contributing to a more cautious consumer sentiment, which could affect spending and business investment. Additionally, inflation expectations have risen, with consumers anticipating a 3.6% increase in prices over the next year. Despite the grim outlook in consumer sentiment, the broader economy continues to show resilience, maintaining a streak of job gains and strong consumer spending.

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3
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3
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Last Updated
11 days ago
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