Further evidence higher unemployment is coming: US consumer...

Further evidence higher unemployment is coming:

US consumers' perceptions of the labor market have weakened to the worst level since 2021.

The difference between the share of Americans saying that jobs are plentiful minus those saying they are hard to get declined is down to 16.4%.

In previous business cycles, has been a leading indicator for unemployment.

It now suggests that the unemployment rate may increase toward 5.5% in coming months.

The labor market is trending toward a recession.