Consumer unemployment expectations rise to highest since April 2020

The New York Fed's Survey of Consumer Expectations shows the perceived probability that the US unemployment rate will be higher in one year rose 1.6 percentage points in August to 44.4%, the highest since April 2020. Excluding the pandemic, it's the highest reading since the survey began in 2013. The increase was led by households earning over $100,000, where expectations reached 50.3%, the second highest on record.