AssetID: 54042886
Headline: UNCAPTIONED: Americans Face Growing Job Insecurity: Highest Job Search Rate in a Decade
Caption: Americans Face Growing Job Insecurity: Highest Job Search Rate in a Decade. Over 28% of Americans are actively searching for new jobs, the highest rate recorded in a decade, signaling increased economic anxiety despite a low unemployment rate, NBC News reports. The New York Federal Reserve's survey indicates a significant rise in job seekers, up from 19.4% a year ago, including both unemployed individuals and those currently employed but looking for new roles. Fears of job loss have also surged, with the likelihood of becoming unemployed reaching 4.4%, the highest since the survey began in 2014. Economic indicators suggest a slowdown, with signs pointing to a softer period following the post-pandemic growth and inflation surge. Economic researcher Guy Berger notes that while layoffs remain low, the survey reflects growing concerns, possibly influenced by social networks and anecdotal experiences of job difficulty. Despite growing concerns, economists argue that a full-blown recession is unlikely, as key metrics like labor force participation and job openings remain strong. The New York Fed's survey reveals that the increase in job searchers is most pronounced among older adults, those without a college degree, and households earning less than $60,000 annually. Rick Goins, a 64-year-old job seeker, exemplifies the challenges faced by older workers, struggling to find full-time employment since 2016 and facing possible ageism in the hiring process. Some economic data, like restaurant and travel bookings, suggest steady growth, but most indicators are moving slowly in the wrong direction, highlighting the economy’s ongoing slowdown. The survey underscores a growing disconnect between the broader economic picture and individual job security, reflecting increased caution among American workers. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
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