A New York Fed survey released Friday showed US consumers in July became more optimistic about finding work and marginally lowered near-term inflation expectations. Respondents’ perceived probability of finding a new job if unemployed rose to 46.2%, the highest this year, with gains concentrated among those with high-school-or-lower education and households earning under $50,000. One-year inflation expectations fell to 3.6% from 3.7%; three-year and five-year expectations remained at 3.3% and 3.

A New York Fed survey released Friday showed US consumers in July became more optimistic about finding work and marginally lowered near-term inflation expectations. Respondents’ perceived probability of finding a new job if unemployed rose to 46.2%, the highest this year, with gains concentrated among those with high-school-or-lower education and households earning under $50,000. One-year inflation expectations fell to 3.6% from 3.7%; three-year and five-year expectations remained at 3.3% and 3.0%, respectively. Despite the improvement in job-finding odds, the average probability respondents assign to a rising unemployment rate over the next year increased across age and income groups; perceived personal risk of job loss ticked up slightly but remains below the 12-month average.