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Data: 62% of Americans expect the unemployment rate to rise in the next 12 months.
According to a report by Jinse Finance, The Kobeissi Letter stated that 62% of Americans now expect the unemployment rate to rise in the next 12 months, which is one of the highest levels since the financial crisis of 2008. This proportion has doubled in less than a year, and such a high percentage has never occurred during non-recession periods.
Interestingly, high-income households in the top 33% are more pessimistic than middle-income and low-income households. In previous economic cycles, changes in expectations of this magnitude have indicated a surge in unemployment rates in 100% of cases.