NY Fed Reserve Released December Survey of Consumer Expectations (Sally's Fishing Job Opportunities)

(Illustrative Purpose)
Sally works as a commercial
fisherwoman and thinks 
her industry is poised to grow
but she is concerned if she does
lose her job she will have 
a hard time finding another one.
She hopes someday they find a
way to improve fish stocks
on the Great Lakes. Maybe
reallocate a higher percentage
of money from overseas to
domestic issues like this.

 She may branch into guided fish
tours and a fish lunch and 
launch from Escanaba harbor. 
It has been getting great
reviews from other boating
enthusiasts. 

Perhaps Delta County 
needs a hatchery to feed 
the area with healthy protein fish, 
a potential commercial source,
and tourism. Not to mention
the tax revenue that comes from
increased licenses, restaurant
and hotel stays. The impact
could have some broader
appeal

Great Lake Fishery Commission

In December, consumer sentiment appeared to shift as concerns about job security and the ability to find new employment increased. Interestingly, many people still reported feeling more comfortable about their overall financial situation. This contrast likely reflects the fact that individuals can feel secure financially while still worrying about future employment risks.

Expectations for inflation one year ahead rose slightly to 3.4 percent, while expectations for inflation three and five years out remained unchanged at 3 percent.

Confidence in finding a new job if one were to lose their current position declined to about 43 percent, the lowest level on record. This drop was driven primarily by households earning under $100,000, with the largest declines among individuals over age 60 and those with a high school education or less.

At the same time, concerns about job loss increased. The perceived likelihood of losing one’s job in the next year rose to roughly 15 percent, above the recent average. Fewer people expected to leave their jobs voluntarily over the next twelve months.

Despite these employment concerns, household perceptions of their financial situation improved. More respondents reported being better off than a year ago, fewer reported being worse off, and expectations for financial conditions in the year ahead also strengthened.

You can read more about this at New York Fed Survey of Consumer Expectations