June 5 - Employment Numbers - 2
Friday’s report showed the share of long-term unemployed, or people without a job for 27 weeks or longer, jumped to 27.5% in May, up from 25.3% in April and the highest since December 2021.
American consumers report feeling miserable about the economy, gasoline prices, inflation and the labor market. A key measure of consumer sentiment has hit all-time lows in recent months amid anxiety about future inflation. Americans keep spending, though high-end consumers continue to drive the economy.
Earlier this week, Dollar General reported that its customers are feeling stressed. They are increasingly reining in spending on household expenses such as groceries as they face higher prices at the gas pump.
Source: WSJ.com
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