Survey Finds 44% of Consumers Expect Higher Unemployment, Highest Level Since Early Pandemic

Consumer fears over inflation, job losses, and stock market instability grew in March as global trade tensions escalated, according to CNBC. The New York Federal Reserve’s monthly Survey of Consumer Expectations found that one-year inflation expectations rose to over 3% in March. The survey also showed that the perceived probability of higher unemployment a year from now rose to 44%, the highest level since April 2020. The New York Fed survey was conducted before Trump’s April 2 tariff announcement and subsequent suspension.