(AURN NEWS) — There is more bad news for the economy, even as the Trump administration insists the country is in a new “golden age.” The latest data shows workers are less confident about the future, raising the question: Who is benefiting from the Trump economy?
A new survey from the Federal Reserve Bank of New York’s Center for Microeconomic Data finds that in August, median inflation expectations rose to 3.2%.
At the same time, Americans are bracing for weaker paychecks. The Fed says median one-year-ahead earnings growth expectations slipped by one-tenth of a point to 2.5% — remaining below the 12-month trailing average of 2.8%.
Unemployment worries are also mounting. The average probability that the jobless rate will be higher a year from now rose by 1.7 points to 39.1% — remaining above its 12-month trailing average of 38.1%.
Job security has plunged. The perceived probability of finding a job after losing one fell sharply by 5.8 points to just 44.9% — the lowest level since the survey began in 2013.
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