Economic Anxiety Rises as Inflation and Job Fears Spike

Recent findings from the New York Federal Reserve's consumer expectations survey reveal a growing concern among US consumers. With one-year inflation expectations climbing to 3.6%, the economic outlook appears increasingly precarious.

Unemployment Worries Reach Pandemic Peaks

The survey indicates a sharp increase in unemployment fears, echoing the anxiety levels seen during the initial months of the COVID-19 crisis. This sentiment is widespread, affecting individuals across various demographics, including age, education, and income levels.

Working-Class Households Hit Hardest

Amid these economic challenges, the probability of job loss has risen to 15.7%, disproportionately impacting working-class families. Additionally, expectations for income and earnings growth have declined, compounded by a pessimistic view on credit accessibility and personal financial health.