NY Fed’s survey shows American labor market expectations at a post-pandemic low

Is Federal Reserve On Monday, the New York Bank issued a recent survey of consumer expectations that they found that the expectations of the American labor market fade to the 6th epidemic at the alien level.

The expectations of the respondents that the unemployment rate will be higher than this year increased by 44% to 44%, a level of April 20, 2020.

In the next 12 months, the perceived probability of losing one’s work increased by 1.6 percentage points, reaching 15.7%, which is the highest level compared to March 2024.

The survey level of trust in the probability Find a job If they lost their current work, slightly decreased by 0.1 percentage points to 51.1%.

Fed Chair Powell says tariffs likely to leave inflation can be stubborn

The New York Fed research has found that consumers have reduced their expectations for the labor market. (Allison Joyce / Bloomberg Getty Images / Getty Images)

Consumers are also waiting for it Inflation will hinder the higher During the next year, the study found that inflation expectations increased by 0.5 percentage points on a one-year horizon. The expectations of inflation have unchanged by 3% of the three-year horizon and decreased by 0.1 percentage points, reaching 2.9% on the horizon.

Expected year ago Price growth 0.1 percentage points increased to 5.2% to food, the level of May 20, 2024. It has risen the cost of 0.7 percentage points, by 7.5%.

The expectations of the price of year by year have decreased by 0.5 percentage gas to 3.2% and 0.2 percentage points to 6.7% for the cost of college education.

Relationship fears, tariff uncertainty quickly dive into consumer mood

Consumers expect that food prices will increase by 5.2% compared to the next year, according to the Fed study of New York. (SCOTT OLSON / Getty Images / Getty Images)

In addition, the survey found that households find it more difficult to get a loan, as the battle saw a slight increase in those who have a negative view of their financial situation. The view of households that the shares will increase by its lowest level of dipped in 2022.

The Fed report of the New York Fed is against the background of the president’s economic uncertainty Donald Trump He pursues the reset of American trading policy, Tit-for-Tat trading war with large commercial partners such as China, Canada, Mexico and the European Union.

Get Fox Business Go by clicking here

Economists believe Import taxes It will lead to rising inflationary pressures, as businesses usually go through the costs of tariffs at higher prices. Although there is uncertainty, how consumer prices are and how long, given the administration’s efforts.

Reuters contributed to this report.