A new labor market survey shows Americans have rarely felt more in need of new job opportunities, indicating that over 28% are currently looking for a new job.
The New York Federal Reserve’s latest consumer poll found that 28.4% of respondents were looking for a job—the highest reading since March 2014 and up from 19.4% a year ago. That includes people who don’t have a job and those who are currently employed but seeking a new and better position.
NBC News reported that the readings from the New York Fed’s thrice-annual Survey of Consumer Expectations Labor Market Survey indicate that the American economy is getting worse. The current unemployment rate is 4.3%, up from its “post-pandemic low” of 3.5%.
The new survey found that expectations of losing one’s job also hit a record. The average expected likelihood of losing your job rose to 4.4%, up from 3.9% a year ago and the highest level ever recorded for the survey, which dates back to 2014.
“It’s hard to find data moving in the right direction. The best you can say is that some data are in a good spot and not getting worse. But most data points are, on average, moving slowly in the wrong direction,” Guy Berger, director of economic research at the Burning Glass Institute, said. […]
— Read More: headlineusa.com
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