A third of Americans expect their households finances to be worse a year from now.
Released Monday, the New York Fed's Aprils found that consumers — especially low-income earners — are expecting their lives to get grim: “The perceived probability of losing one’s job reached a new series high for the second consecutive month. Expected earnings, income, and spending growth each reached series lows.”
For seven years, the New York Fed has asked people each month how much they expected their income to rise or fall over the next year. In this month's survey, people said they thought their earnings would increase by only 1.8% over the coming year — the lowest number ever recorded in the series. The outlook was best among those who earn over $100,000 and worst among those who earn less than $50,000.
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