US job market outlook sees modest improvement; near-term inflation expectations ease

January 2026 Consumer Expectations Survey Results

The Center for Microeconomic Data at the Federal Reserve Bank of New York has published the results of its January 2026 Survey of Consumer Expectations. According to the report, households' expectations for inflation remained steady over the medium and long term, while short-term inflation expectations decreased.

There were also slight positive shifts in labor market outlooks. Respondents anticipate greater earnings growth, perceive a reduced risk of losing their jobs, and feel more confident about securing new employment if needed.

This survey was conducted between January 2 and January 31, 2026.