• 3,000 firms
  • Independent
  • Trusted
Save up to 70% on staff

Home » U.S. workers see job-loss risk at lowest since 2024: NY Fed

U.S. workers see job-loss risk at lowest since 2024: NY Fed

Key facts
  • Expected job-loss probability fell to 13.5%, the lowest since December 2024.
  • The expected quit rate rose 0.4 percentage point to 19.9%.
  • One-year inflation expectations rose to 3.9%, the highest since May 2023.
  • Expected earnings growth fell 0.3 percentage point to 2.6%.
Source: Federal Reserve Bank of New York

NEW YORK, UNITED STATES — U.S. households grew more confident about their jobs in September even as they braced for higher prices, with the expected risk of losing a job falling to its lowest level since December 2024. More workers also expect to quit in the next year, and they rate their chances of finding a new job higher.

The job outlook brightens

The mean perceived probability of losing one’s job in the next 12 months fell 0.3 percentage point to 13.5%, the Federal Reserve Bank of New York’s September Survey of Consumer Expectations showed. The expected quit rate rose 0.4 percentage point to 19.9%, above its 12-month trailing average of 18.5%.

The perceived chance of finding a job after losing one rose 0.7 percentage point to 46.1%, while the probability that U.S. unemployment will be higher a year from now fell 0.5 percentage point to 43.9%. The drop in job-loss expectations was driven by people aged 40 to 60 and households earning over $100,000, while the rise in quit expectations came from those without a bachelor’s degree and those above age 40.

Prices and pay pull apart

Inflation expectations moved the other way. Median one-year-ahead inflation expectations rose 0.3 percentage point to 3.9%, the highest reading since May 2023, while expected earnings growth fell 0.3 percentage point to 2.6%.

Households also expect to spend more, with median spending growth expectations up 0.3 percentage point to 5.5%. Expected price increases rose for gas, food, medical care and rent, and the expected cost of a college education jumped 1.4 percentage points to 7.5%.

At the same time, perceptions and expectations about households’ financial situations deteriorated. The survey draws on a rotating panel of about 1,300 household heads and was fielded from Sept. 1 to Sept. 30.

When more workers expect to quit while pay growth expectations slip, employers face a rising attrition rate in roles that are hard to keep staffed, and offshore outsourcing can stabilize that work. When inflation squeezes budgets, buyers comparing the top BPO companies worldwide can weigh retention records alongside price.

The New York Fed’s survey shows U.S. workers feeling safer in their jobs and more willing to move. For enterprise buyers, that combination raises the cost of keeping teams stable at home. BPO operators that offer steady staffing and predictable pricing are positioned to benefit.

FREE BPO MATCH
Building your future workforce?
Offshore staffing specialists matched free — no obligation
5,200+ matches made

Get 3 free quotes →

Related news

Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.

Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 450+ podcast episodes, and a comprehensive directory with 4000+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

“Excellent service for outsourcing advice and expertise for my business.”

Learn more
Banner Image
Get 3 Free Quotes Verified Outsourcing Suppliers
3,000 firms.Just 2 minutes to complete.
SAVE UP TO
70% ON STAFF COSTS
Learn more

Connect with over 3,000 outsourcing services providers.

Banner Image

Transform your business with skilled offshore talent.

  • 3,000 firms
  • Simple
  • Transparent
Banner Image