{"id":144416,"date":"2025-09-09T16:00:10","date_gmt":"2025-09-09T16:00:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/144416\/"},"modified":"2025-09-09T16:00:10","modified_gmt":"2025-09-09T16:00:10","slug":"americans-increasingly-pessimistic-about-finding-new-jobs-new-york-fed-finds","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/144416\/","title":{"rendered":"Americans increasingly pessimistic about finding new jobs, New York Fed finds"},"content":{"rendered":"\n

First Trust Advisors chief economist Brian Wesbury joins \u2018Varney & Co.\u2019 to discuss former Labor Secretary Robert Reich\u2019s warning that President Donald Trump is pushing the U.S. into stagflation.<\/p>\n

The Federal Reserve Bank of New York on Monday released new data that showed American households are increasingly\u00a0pessimistic about finding a new job<\/a> if they lose their current job. It is the lowest level since the\u00a0New York Fed<\/a> began collecting data for the series in June 2013.<\/p>\n

The New York Fed’s Center for Microeconomic Data released its Survey of Consumer Expectations for August, which showed that the average perceived probability of finding a job if the respondent were to lose their current job plunged last month to a new low amid economic uncertainty.<\/p>\n

The perceived probability of finding a new job if one’s current job was lost dropped 5.8 percentage points last month, falling to 44.9%.<\/p>\n

“The decline was broad-based across age, education, and income groups, but it was most pronounced for those with at most a high school education,” the New York Fed explained.<\/p>\n

US JOB GROWTH MISSED EXPECTATIONS IN AUGUST AMID ECONOMIC UNCERTAINTY<\/a><\/p>\n

\"Employers <\/p>\n

The New York Fed’s survey found Americans’ pessimism about finding a new job if they lose their current role reached a new low. (Paul Bersebach\/MediaNews Group\/Orange County Register via Getty Images \/ Getty Images)<\/p>\n

The August data also included data showing a slight increase in Americans’ expectations about\u00a0losing their job<\/a> in the next 12 months, as well as a lower probability of leaving one’s job voluntarily in the next year.<\/p>\n

The average perceived probability of losing one’s job ticked up 0.1 percentage point to 14.5%, which is above the 12-month trailing average of 14%.<\/p>\n

At the same time, the average probability of\u00a0leaving one’s job voluntarily<\/a> declined by 0.1 percentage point to 18.9%, just below the 12-month trailing average of 19%.<\/p>\n

BANK OF AMERICA REPORTS SMALL BUSINESS HIRING DOWN 6.7% YEAR-OVER-YEAR AMID TARIFF SURGE<\/a><\/p>\n

\"Job <\/p>\n

The NY Fed’s survey found Americans see a higher likelihood of losing their job in the next year and a lower probability of leaving their current job voluntarily. (Joe Raedle\/Getty Images \/ Getty Images)<\/p>\n

American households also see\u00a0inflation rising<\/a> over the next year, with median expectations for the next year ticking up 0.1 percentage point to 3.2% one year from August \u2013 a level that would be well above the Fed’s 2% target.\u00a0<\/p>\n

TRUMP ORDERS TERMINATION OF LABOR STATISTICS OFFICIAL AFTER JOBS REPORT AND DOWNWARD REVISIONS<\/a><\/p>\n

Inflation expectations at the three- and five-year ahead time horizons were unchanged at 3% and 2.9%, respectively.<\/p>\n

The\u00a0Bureau of Labor Statistics<\/a> is due to release its consumer price index (CPI) inflation report for the month of August later this week.\u00a0<\/p>\n

GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/a><\/p>\n

The July edition showed headline CPI was up 2.7% from a year ago, while core CPI \u2013 which excludes volatile food and energy prices \u2013 was up 3.1% over the past year.<\/p>\n","protected":false},"excerpt":{"rendered":"First Trust Advisors chief economist Brian Wesbury joins \u2018Varney & Co.\u2019 to discuss former Labor Secretary Robert Reich\u2019s…\n","protected":false},"author":2,"featured_media":144417,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-144416","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/144416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=144416"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/144416\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/144417"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=144416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=144416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=144416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}