U.S. households put the average chance of unemployment rising within a year at 45.3% in October, the Federal Reserve Bank of New York (New York Fed) reported, its highest reading since April 2020.
The average probability increased 1.4 percentage points from September. The figure reflects respondents’ perceived likelihood that the national unemployment rate would be higher in a year; it is not a forecast that the rate would reach 45.3%.
The survey ran from Oct. 1 through 31. EconoTimes previously covered the survey’s inflation and labor-market findings. The U.S. Bureau of Labor Statistics (BLS) scheduled its October Consumer Price Index (CPI) report for Tuesday, Nov. 10, at 8:30 a.m. ET.
