American workers fear an economic recession

Theories and prophecies about a possible economic recession in the United States


R. Gelfenstein - Nervousness about job security is increasing, although job prospects are strong for now. Economic concerns could be prophetic, as any economic downturn is likely to lead to more disparities in financial vulnerability and broader economic inequalities, the Axios study explains.

Unemployment rates are currently near record lows, near an all-time low of 3.6%. However, the US Federal Reserve wants to raise the rate to combat inflation, which has remained high since 2021.

"Across all income levels, the proportion of workers who fear a loss of income next month increased in June compared to the previous month," according to research by morning Consult/Axios Inequality Index.

In the four weeks ending June 18, the percentage of U.S. adults who suffered lost income from work remained relatively unchanged at 10.9 percent, compared with 11.0 percent in the previous four-week period. , reveals the Axios survey. .

However, economic fear and uncertainty persist: In June, the proportion of U.S. workers from families with incomes below $50,000 a year who expect to suffer a loss of income in the next four weeks rose from 10.3% to 13.2%, while the proportion among families earning $100,000 or more rose from 10.4% to 15.7%. according to Axios.

Financial vulnerability also increased as inflation took hold in the food and gasoline sectors. "In June, 36.9% of adults in low-income households said they had no savings to cover basic expenses for a full month, up from 32.2% the previous month," Axios said.

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