Confidence in finding a new job is at an all-time low among workers, while job hugging—the trend where “workers hold onto their jobs for dear life”—is at an all-time high, according to a new survey from the Federal Reserve Bank of New York released on Monday.
The New York Fed’s Survey of Consumer Expectations for August found respondents believed they had only a 44.9% of finding another job after losing their current one—the lowest in the survey’s history since June 2013. That’s 5.8% lower than in July, the previous month.
The findings are in line with a July report, which found the majority of employees plan to stay in their current job for at least the next six months, with Gen Z workers reporting the highest desire to stay put.
Another interesting finding: 39.1% of those surveyed exp