Americans have the least confidence in finding a new job since 2013, the depths of the ‘jobless recovery’ after the Great Recession
The Americans are now with the least confidence in finding a new job since at least 2013, a period also known as the depths of “fair recovery” after the great recession. According to the latest survey of consumer expectations in August 2025 of the Federal Reserve in New York, the perceived possibility to secure a new job decreased if the job was lost to 44.9 %. This is the least reading since the beginning of the series in June 2013. The decrease was widely scattered through groups of age, education and income.
The term “unemployed recovery” precedes the great recession that began in 2008, but it took many years until the economy recovers to recover all the jobs lost in the accident after the mortgage bubble appeared under the mortgage. At its peak, unemployment increased to 10 % in late 2009, just decreased to less than 8 % by 2013 – more slow than previous recovery. Labor owners have slowly regained salary lists, but the deficit of the stagnation was so vast that even in mid -2014, the economy regained only 8.7 million jobs that he lost since 2007. Many workers spent months, for years, looking for jobs, and long -term unemployment reached its highest levels.
The Budget and Politics Priorities Center, a non -partisan research center, explained that the great recession has created the large and unusual “output gap”, between the actual and potential gross domestic product, which is manifested in excessive unemployment and missing labor. It took until 2017 to conclude this output gap, according to the congress Budget Office in August 2018 Economic outlook and budget Estimates – until then, the economy has not resumed the possibility of the possible gross domestic product by the accident.
Even in 2017, millions of Americans who wanted jobs were unable to find them, or they were unable to get part -time work. The “stagnation” labor market-which is also due to standardized standard levels and worked at work-record levels, and the share of the population who have a job that decreased to the mid-1980s.
Why is very bleak?
The Federal Reserve in New York, which surveyed the rotating national committee, which includes about 1,300 family presidents, follow inflation, price, labor market, and financial morale. Other results were more moderate than pessimism over unemployment in the future.
The profit growth forecast has decreased to 2.5 %, remaining less than average for 12 months and in a long -term range since 2021. The average potential unemployment will be 1.7 points to 39.1 %, and remain higher than the annual average. Fears of job loss increased to 14.5 %, higher than average, while the possibility of leaving voluntary function decreased to 18.9 %, slightly lower than average.
More respondents said they felt badly compared to last year, and informed a smaller share of a better financial situation, and the expectations were more attractive to the future. A greater share of families expects a worse financial situation, while a larger share of families expects a better financial position a year from now. Perhaps in another sign of polarization, a large percentage (38.9 %) expected that stock prices will rise next year.
The economy is certain in a better place this year than it was in 2013. The past eight years of Trump and Biden’s economies have been largely expanded, albeit with a wave of inflation that was unlike anything that was seen since “Jabal Al -Takhmal” in the 1970s and 1980s. Unlike the unemployed recovery in 2010, the American economy gained every function lost in the wave of unprecedented layoffs from the epidemic in the few years significantly, and then greatly outperformed other economies around the world.
Consumer and depression are likely to be associated with the exciting direction of low employment, which has become increasingly clear from the work statistics office reviews. The appearance of artificial intelligence and its impact on the labor market is due to a hot discussion, but many studies indicate that it displaces some employment at the level of entry.
“Less than previously understood,” Bill Adams, chief economist at Komerica Bank, revealed in a statement. luck. Adams pointed out that the year 2024 was believed to be growing at a rate of 168,000 new jobs per month and 2025 at 75,000 per month, for every previous data, but this has now been reduced to 106,000 and 44,000, respectively.
“There was a huge review of the operation in the information industry,” Adams said. “The revised data appears more clearly that artificial intelligence is working to automate technical jobs.”
2025-09-09 17:08:00
