Most Alarming Job Chart I have seen so far (Patreon)

Why is this alarming?

The recent spike indicates that a significant portion of the currently employed population fears they might lose their jobs in the near future. This kind of spike usually occurs during periods of economic uncertainty, such as before or during a recession.

If you look at the historical data, similar spikes in unemployment expectations have occurred around significant economic downturns or crises, suggesting that people may sense impending economic trouble. We are at more than 10 year highs and way worse than Covid.

When people fear losing their jobs, they may cut back on spending, which can reduce consumer demand and further slow down the economy. This can create a vicious cycle, where the fear of unemployment leads to behaviors that make unemployment more likely. I hope the fed see this!