New York Fed: Tight job market impacts consumer confidence
soft labor market this summer has affected Americans' views on the economic outlook. The latest consumer expectations survey from the New York Fed shows that in August, consumers' views on future job prospects and unemployment worsened, while short-term inflation expectations rose. In August, the proportion of people expecting the unemployment rate to rise in the next year increased by 1.7 percentage points from July to reach 39.1%. At the same time, the expectation of finding a new job if they were to lose their current job decreased by 5.8 percentage points to 44.9% - the lowest level since the New York Fed began tracking this data in June 2013. The pessimism about the labor market may be justified. Recruitment has been weak since May. In August, the US added only 22,000 jobs, far below the expected increase of 76,500 jobs by economists. The unemployment rate rose to 4.3%, the highest level since 2021, and the number of people applying for unemployment benefits in August steadily increased.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Is the moat of public blockchains only 3 points? Alliance DAO founder's remarks spark heated debate in the crypto community
Instead of worrying about "moats," perhaps we should focus more on how cryptocurrencies can meet the real needs of more market users faster, at lower cost, and with greater convenience.

Digital Finance Game: Unveiling the US Cryptocurrency Strategy

Glassnode: Bitcoin weakly fluctuates, is major volatility coming?
If signs of seller exhaustion begin to appear, it is still possible in the short term for bitcoin to move towards the $95,000 level and the short-term holder cost basis.

Axe Compute (NASDAQ: AGPU) completes corporate restructuring (formerly POAI), enterprise-level decentralized GPU computing power Aethir officially enters the mainstream market
Predictive Oncology officially announced today that it has changed its name to Axe Compute and will trade on Nasdaq under the ticker symbol AGPU. This rebranding marks Axe Compute's transition into an enterprise-level operator, officially commercializing Aethir's decentralized GPU network to provide robust, enterprise-grade computing power services for AI companies worldwide.

