Americans are worried about the job market at the same level as they were shortly after the COVID-19 pandemic began in 2020, according to a new survey.
The Federal Reserve Bank of New York said 44% of respondents said they believe the national unemployment rate will rise next year. It's the highest reading since April 2020.
Nearly 16% said they have concerns about losing their current job. The New York Fed said the increase was the largest in respondents with annual household incomes under $50,000.
Compared to a year ago, respondents also said it is harder to get access to credit options and with many saying they believe it will be harder to obtain credit in the year ahead.
It should be noted that the New York Fed survey was conducted before President Donald Trump’s April 2 “Liberation Day” tariff announcement, as well as the 90-day suspension of the order a week later.
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