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American worker According to research by the Federal Reserve Bank of New York, they are reducing their expectations of payment rates, which they want to do a new job.
Survey of consumer expectations of New York Fed found that so -called Reservation wage A new job declined to $ 74,236 in March to $ 82,135 to $ 82,135 in November, the highest level in the data chain. The report found that low wages expectations were conducted by men and workers over 45 years of age.
With a decline of last month, the reservation salary was submerged near that level in November 2023, when it was $ 73,391.
The New York Fed survey also found that 14.9% of the respondents saw the possibility of getting a job offer in the next four months, which declined from 16.2% in November.
IMF cuts US economic development forecast on trade tension, policy uncertainty
The New York Fed survey found that the respondents have reduced their wages hopes for a new job. (Reuters / Andrew Kelly / Reuters Photos)
Expectations of respondents Unemployment rate It will be more than one year from now. In March, 4.6 percentage points increased by 44%-the most reading since April 2020. The increase was widespread in age, education and income groups.
In the next 12 months, the alleged probability of losing someone’s job increased by 1.6 percentage points to 15.7%, which is the highest level since March 2024. This growth was the largest for respondents with annual domestic income less than $ 50,000.
Fear of recession, tariff uncertainty in consumer spirit soon dipped
There are taxes on imports paid by tariffs importers, which usually pass those high costs to consumers through high prices. (Photo by Selkuk Akar / Anadolu through Getty Image / Getty Image)
The respondents were also less likely to report hope that they would have to work in their old years. Only 47.3% of the respondents said in March that they expect to work over 62 years, while 31.6% said they feel that they would work more than 67 years. They are both below November, when the figures were 50.6% and 34% respectively.
Workers wish to take low salary for a new job comes amidst weakening of consumer expectations about economic conditions since the President. Donald Trump Taking tenure and imposed wide tariffs on American business partners, promoted vengeance and growth of business war abroad.
Trump’s tariff estimated to increase unemployment, but escape from large -scale trimming: Allians
Federal Reserve Chairman Jerome Powell said that tariffs can put the central bank in a challenging position as it supports full employment and stable prices. (Anna Moneymaker / Getty Image / Getty Images)
federal Reserve Officials have said they hope that consumer prices will increase as a result of tariffs, unemployment is expected to increase higher and economic growth is expected to be slow.
Economists are increasing the chances of American economy PenetrateIn part due to economic chaos caused by trade war.
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The International Monetary Fund (IMF) said on Tuesday that it now sees 37% of the recession for the US economy above 25%.
Reuters contributed to this report.
