Fed survey shows lows in employment, worries about finding work and dissatisfaction with pay
A New York Fed survey released Monday showed that of those who were employed at the time of the last survey in March, 88% still had jobs, the lowest in data going back to 2014.
Those who expected to become unemployed rose to 4.4%, a 0.5 percentage point increase from a year ago and the highest in the survey’s history.
In another sign of cracks forming in the U.S. labor market, a New York Federal Reser... moreFed survey shows lows in employment, worries about finding work and dissatisfaction with pay
A New York Fed survey released Monday showed that of those who were employed at the time of the last survey in March, 88% still had jobs, the lowest in data going back to 2014.
Those who expected to become unemployed rose to 4.4%, a 0.5 percentage point increase from a year ago and the highest in the survey’s history.
In another sign of cracks forming in the U.S. labor market, a New York Federal Reserve survey Monday showed a slide in people reporting they are employed, a surge in those looking for work and growing dissatisfaction with pay.
The thrice-yearly measure of labor activity, confidence and satisfaction reflected growing concern in July about job security and in increase in those expecting to work past typical retirement age. Workers are still looking for higher starting salaries but are getting lower offers.
The results come with the unemployment rate ticking higher and Wall Street and Fed policymakers watching the developments closely for clues about where things are headed for the U.S. economy.
Among the findings was that, of those who were employed at the time of the last survey in March, 88% still had jobs, the lowest in data that goes back to 2014. Similarly, those who expected to become unemployed rose to 4.4%, a 0.5 percentage point increase from a year ago and the highest in the survey’s history.
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