Axios - Americans haven't been this gloomy about the job market since the Great Recession...Fears about joblessness have surged since President Trump unveiled plans to impose steep tariffs on foreign goods.
As of early August, that pessimism was in step with that of the 2008 financial crisis. About 62% of consumers believe unemployment will worsen in the year ahead, according to the University of Michigan's latest monthly survey...
Economic conditions are strikingly different compared to the last time consumers felt this glum.The economy was in the midst of what was the worst economic downturn since the Great Depression. The stock market was falling off a cliff, unemployment filings soared and the jobless rate would ultimately peak at 10%.
- Now: The economy is slowing, though fears are worse than the official data suggests so far. The unemployment rate is holding at a historically low 4.2%, as of July. Read on.
No comments:
Post a Comment