NY Fed’s survey shows American labor market expectations at a post-pandemic low
The accredited public accountant, market analyst and author Dan Gilterod speaks to move in an uncertain market and tax advice at the last minute before the final date of the Authority.
On Monday, the Federal Reserve in New York released the latest survey of consumer expectations, which found that the expectations of Americans in the labor market were afraid to the lowest level since the Covid-19s.
The expectations of the respondents expected that the unemployment rate will be the highest year from now, 4.6 percentage points jumped to 44 % in March-highest reading since April 2020. The increase was wide across age groups, education and income.
The perception of the loss of individual jobs in the next 12 months increased by 1.6 percentage points to 15.7 %, which is the highest level since March 2024. This increase was greater for respondents with the annual family income less than $ 50,000.
The level of the respondents’ confidence in the possibility of finding a job has decreased if they lost their current function slightly by 0.1 Celsius to 51.1 %.
Federal Reserve Chairman Powell says the definitions that are likely to cause high inflation, can be fixed
New York’s Federal Reserve Recipition was found that consumers have reduced their expectations in the labor market. (Alison Joyce / Bloomberg via Getti Imachurs / Tire)
Consumers also expect inflation to be upperly over the next year, as the poll found that inflation forecast increased by 0.5 percentage points to 3.6 % on the horizon and arches for one year. The inflation expectations did not change by 3 % on the horizon for three years, and it decreased slightly by 0.1 percent to 2.9 % on the horizon and five years.
The expected price price growth for the year 0.1 percentage points increased to 5.2 %, its highest level since May 2024. It increased by 0.7 percentage points for the cost of medical care to 7.9 %, while rent increased 0.5 percentage points per rent to 7.2 %.
The expectations of the year price decreased at 0.5 degrees Celsius to 3.2 % and 0.2 percentage points for the cost of university education to 6.7 %.
Fears of stagnation, and the induction uncertainty drowns in the feeling of consumer
Consumers expect that food prices will increase by 5.2 % during the next year, according to the FBI surveyed in New York. (Scott Olson / Getty Images / Getty Images)
In addition, the poll found that families find it difficult to obtain credit, as March witnessed a slight increase in those who view their financial situation negatively. Families’ view of the possibility that stocks will rise to their lowest level since June 2022.
The Federal Reserve Report in New York comes against the backdrop of the increasing economic uncertainty as president Donald Trump is following an American trade policy, which sparked a trade war with major commercial partners such as China, Canada, Mexico and the European Union.
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Economists believe that import taxes will lead to high inflationary pressures, as companies usually transfer the customs tariff costs to consumers through high prices – although there is uncertainty about the amount of consumer prices, and for how long, given the administration’s efforts to negotiate more convenient commercial conditions.
Reuters contributed to this report.
2025-04-14 18:52:00
