4.4% of U.S. Workers Expect to be Laid Off in the Next 4 Months

What We’re Showing

This graphic shows what U.S. workers expect in terms of job transitions, as of July 2024. Data comes from the Federal Reserve Bank of New York’s SCE Labor Market Survey (published Aug. 19, 2024).

The SCE (Survey of Consumer Expectations) is a nationally representative internet-based survey of 1,300 household heads, focusing on economic outcomes. 

Key Takeaway

4.4% of workers expect to be unemployed in the next 4 months, which is the highest value ever recorded since July 2014 (start of the survey). 

Other Highlights from the Survey

Job satisfaction also deteriorated over the past year (July 2023 - July 2024):

• Wage compensation: -3.2 pp*
• Nonwage benefits: -8.6 pp 
• Promotion opportunities: -9.3 pp

*pp = percentage points

As of July 2024, 56.7% of workers were satisfied with their current wage, 56.3% satisfied with nonwage benefits, and 44.2% satisfied with promotion opportunities.