This is concerning: 44% of US consumers now expect higher unemployment within the next 12 months, the highest since 2020. Over the last 2 months, this percentage has spiked by 10 points, according to the NY Fed. This marks the second-largest 2-month jump in the history of the survey. Furthermore, consumers’ perceived probability of losing a job within a year jumped to 15.7%, the highest since September 2020. This is yet another survey showing lack of confidence in the labor market. Pessimism over the job market is skyrocketing.