US consumers see higher near-term inflation, fewer jobs in August

Inflation uncertainty increased at short and medium-term horizons but eased at five years. The difference between the 75th and 25th percentiles of inflation expectations decreased at the one-year and three-year ahead horizons and remained unchanged at the five-year ahead horizon, The Federal Reserve Bank of New York said in a release.

Labour market indicators worsened, with one-year ahead earnings growth expectations slipping to 2.5 per cent, and unemployment expectations rising to 39.1 per cent. The probability of job loss in the next 12 months ticked up to 14.5 per cent, while the likelihood of voluntarily leaving a job dipped slightly to 18.9 per cent.

Notably, job-finding expectations fell sharply to 44.9 per cent, the lowest since the series began in June 2013, with declines broad-based across demographics, especially among those with only a high school education.

ALCHEMPro News Desk (HU)