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NY Fed Survey Finds Americans More Worried over Future Jobless Levels
Americans saw the highest chance of higher unemployment since April 2020, while 1-year inflation expectations held at 3.9%, the New York Fed said.
- On Monday, the Federal Reserve Bank of New York released a survey showing Americans' unemployment concerns reached their highest level since April 2020, with the perceived probability of joblessness rising to 45.3% in October.
- Friday's government report showed unexpected strength in the job market, with 165,000 positions added in October and the jobless rate ebbing to 4.1%, creating a stark contrast with the survey's pessimistic outlook.
- Respondents expressed greater confidence in securing new employment, with the probability of finding another job after a loss rising to 46.5%, the highest in about a year, according to the New York Fed.
- Consumers expect inflation to hold at 3.9% next year, well above the Federal Reserve's 2% target, prompting policymakers to plan interest rate increases at their early December meeting.
- The survey, conducted during October's run-up to midterm elections, reflects broader economic anxiety as Americans struggle with high inflation driven by President Donald Trump's trade tariffs and the ongoing Middle East war.
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16 Articles
16 Articles
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NY Fed survey finds Americans more worried over future jobless levels
By Michael S. Derby Nov 9 (Reuters) - Americans last month grew more worried about the labor market outlook, according to a survey released on Monday by the Federal Reserve Bank of New York. The bank’s October Survey of Consumer Expectations found tha...
Coverage Details
Total News Sources16
Leaning Left1Leaning Right3Center3Last UpdatedBias Distribution43% Center, 43% Right
Bias Distribution
- 43% of the sources are Center, 43% of the sources lean Right
43% Right
14%
C 43%
R 43%
Factuality
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