Prospects for Job Seekers Seen Worsening: NY Fed Survey

Americans’ view of the labor market grew somewhat more pessimistic in May, with the perceived prospects for job seekers hitting their lowest point this year, according to a Federal Reserve Bank of New York survey released Monday.

The survey also showed consumers’ inflation expectations remained largely unchanged from a month ago.

The report followed an unexpectedly strong employment report for May with job gains beating expectations. For Fed officials, the report put to rest for now concerns that the US labor market remained fragile and stoked worriesover inflation. Policymakers’ preferred measure of inflation hit 3.8% in April, amid a ...