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Consumers' view of U.S. job market brightened in March: NY Fed [April 15, 2014] NEW YORK (Reuters) — U.S. consumers grew more confident in the labor market last month, with younger workers in particular seeing a greater chance of finding work should they lose their current job, a survey from the Federal Reserve Bank of New York said on Monday. |
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The monthly survey found that consumers in March
perceived an average chance of 48.95 percent for finding a new
job should they lose their current position. That is up from
46.1 percent in February and nearly matches January's reading of
48.98 percent, which had been the highest since last June. Workers under 40 were the most optimistic. In that group, the
chances of finding work were seen at 60.38 percent, the highest
since the New York Fed began gathering the data last June. Other age groups also saw a brightening picture, although the
oldest workers continued to see a low likelihood of being
reemployed if they lost their jobs. Those between 40 and 60 assigned a 45.52 percent probability of
being able to find a replacement job, up from 43.49 percent in
February. Respondents over 60 saw just a 30.39 percent chance,
but that was up from a reading of 25.4 percent in February,
which was the lowest level in the series history. The bank, one of the 12 regional banks in the Fed system, began
publishing its national consumer survey findings in January. The
bank also asks consumers their opinions of inflation, household
finances and wages. (Reporting by Dan Burns; editing by James Dalgleish) [© 2014 Thomson Reuters. All rights reserved.] Copyright 2014 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
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