NY Fed says there's 'sharp' rise in job seekers - Breaking The News

NY Fed says there's 'sharp' rise in job seekers

19 August

1 min read

EPA-EFE/JUSTIN LANE

The Federal Reserve Bank of New York’s Center for Microeconomic Data shared on Monday in its July 2024 SCE Labor Market Survey that there was a "sharp" increase in those who seek jobs when compared to the same timeframe in 2023.

The proportion of individuals seeking a job in the past four weeks grew to 28.4%, the highest since March 2014 and up from 19.4% registered in July 2023. The increase was most pronounced among respondents older than 45, those who don't own a college degree, and those earning less than $60,000 per year.

Meanwhile, "satisfaction with wage compensation as well as with nonwage benefits and promotion opportunities at respondents' current jobs all deteriorated," it was mentioned in the survey.

SURVEY labor market fed

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