Americans' job loss concerns at highest since 2014, with expected unemployment rising to 4.4% and job search share at 28.4%.
The Federal Reserve Bank of New York's latest survey reveals that Americans' concerns about job loss are at their highest levels since 2014, with the expected likelihood of unemployment rising to 4.4% on average, up from 3.9% last year. The survey also found that the share of workers searching for a job in the past four weeks jumped to 28.4%, the highest level since data began. These findings suggest significant cracks may be forming in the labor market, as economists and central bankers express concerns about potential deterioration of the job market.
August 19, 2024
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