U.S. consumers felt slightly more optimistic about their finances and job security in May as businesses began to reopen and rehire workers following the easing of coronavirus-related restrictions, according to a survey released on Monday by the New York Federal Reserve.
While the economic effects of the coronavirus pandemic were still broadly evident, the findings support recent employment data suggesting the worst of the job losses caused by the pandemic may have passed.The share of Americans expecting the U.S. unemployment rate to be higher a year from now dropped to an average 38.9per cent in May, from 47.6per cent in April. Perceived chances of losing a job in the next year also dropped to an average 18.7per cent in May from 20.
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