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Remote work is worsening youth unemployment, New York Fed finds
Both remote work and youth unemployment are on the rise since the Covid pandemic — and the two trends are related, according to new research by the Federal Reserve Bank of New York. The unemployment rate for young college graduates swelled to 5.6% in March 2026 from 3.6% in March 2019, the New York Fed economists wrote in a blog post published Monday. They estimate that remote work can account for 64% of the recent increase.
More people are going hungry now than at the height of the pandemic
Food insecurity affects more families now than during the coronavirus pandemic, according to a new survey from the Federal Reserve Bank of New York. (Image credit: Mark Felix)
At least 3.5 million people have lost food stamp access as Trump's 'big beautiful bill' cuts take effect, analysis finds
Consumers are facing price pressures as the costs of groceries and gas rise. The pace of inflation is expected to increase in the coming months, according to the Survey of Professional Forecasters, a quarterly macroeconomic survey from the Federal Reserve Bank of Philadelphia. Meanwhile, there has been a "remarkable increase in food insecurity," the Federal Reserve Bank of New York said in a recent blog post, as people cope with higher costs and the loss of federal aid.
Remote work blamed for rise in unemployment rate for recent college grads
Remote work blamed for rise in unemployment rate for recent college grads These findings align with the current ‘low-hire, low-fire’ state of the job market - Bookmark The surge in remote work since the pandemic has made businesses less inclined to hire young, inexperienced staff, emerging as the primary factor behind elevated unemployment rates for recent college graduates, a new study has revealed. Published Monday by the Federal Reserve Bank of New York, the research compared occupations...
Remote work – not AI – is killing job prospects for the youth
Fresh college graduates frozen out of the job market shouldn't blame AI for their struggles, says the New York Federal Reserve. Instead, get angry at the rise of remote work. According to the Fed's analysis, youth unemployment has risen significantly since the coronavirus pandemic, and hasn’t receded in the same way that unemployment numbers for older, more experienced college graduates has in recent years.
Hot jobs report puts Fed cuts further out of reach as Chair Warsh faces policy tests
Another big jobs report in May has pretty much swept aside the possibility of interest rate cuts anytime soon — and in the process underscored the tricky policy path ahead for new Federal Reserve Chair Kevin Warsh. The chance of rate reductions already had been on life support heading into Friday's nonfarm payrolls report. But the unexpectedly strong gain of 172,000, compounded by sharp upward revisions for prior months, makes the case for policy easing even weaker, particularly considering...
Household worries over finances hit highest level since July 2022, New York Fed survey shows
U.S. households grew more worried over their financial situation, with the share of those seeing things as much worse than they were 12 months ago hitting a nearly four-year high, according to a Federal Reserve Bank of New York survey. While the central bank's monthly Survey of Consumer Expectations, released Monday, showed the inflation outlook mostly unchanged, the general perception of conditions deteriorated. The share of those seeing their current situation as "much worse" than a year...
Young and unemployed? Remote work, not AI, may be the problem, study finds
Young and unemployed? Remote work, not AI, may be the problem, study finds Andrew Zinin Lead Editor The rise of remote work since the pandemic has made businesses more reluctant to hire young, inexperienced workers and is the key driver of higher unemployment rates for recent college graduates, a study released Monday has found. The study, by the Federal Reserve Bank of New York, compared occupations that can be done remotely—such as software development—with those that are done in person,...
Remote work career risks for Gen Z are 'subtle, but material,' Harvard professor says: How to avoid the pitfalls
While remote work offers young people flexibility, autonomy and a commute-free day, research shows that forgoing the office can have a detrimental impact on those at the start of their careers. Remote work is likely the main cause of a surge in youth unemployment, a report this month by the Federal Reserve Bank of New York found. The National Bureau of Economic Research has also found, in a paper updated this month, that the rise in remote work makes it harder for younger workers to get...
Credit cards aren’t evil – if you know how to use them the right way | Gene Marks
Using a credit card is no different than having a drink or two at dinner or a Big Mac once in a while. It’s fine, just don’t overdo itThe percentage of credit card balances that were at least 90 days delinquent rose to 13.12% in the first quarter of this year, according to data released in May by the Federal Reserve Bank of New York. As the Wall Street Journal reported: “That’s the highest level in 15 years, and the most since the period following the 2008 financial crisis.”