US consumers' views on labor market mixed, New York Fed survey shows

U.S. consumers reported mixed feelings about the labor market in October as the outlook for unemployment improved but the perceived odds of finding new work after losing a job dropped to a six-year low, according to a survey released on Monday by the New York Federal Reserve.

The regional Fed bank's latest Survey of Consumer Expectations found gradual improvement in optimism about the labor market, with the average expectation that the unemployment rate could be higher one year from now dropping for the third consecutive month.The perceived odds of losing a job in the next 12 months also dropped to 15.5per cent in October from 16.6per cent in September, but were still above the pre-pandemic level of 13.8per cent in February.

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