Americans are increasingly doubtful about their ability to find new jobs within three months, according to fresh survey data from the New York Federal Reserve. Workers now estimate only a 45% chance of securing employment if laid off, levels comparable to the Great Recession and worse than during the COVID‑19 pandemic.
Nearly 25% of Americans Jobless Are Long‑Term Unemployed
Nearly a quarter of jobless Americans are long‑term unemployed, with median joblessness stretching to 11.5 weeks. Consumer sentiment has also fallen sharply amid rising gas prices and stock volatility. Still, March’s stronger‑than‑expected job growth of 178,000 positions offers a glimmer of hope for those struggling in a tough market.
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