Here's how Americans are feeling about the economy — and other happenings in the world of work

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Catch up on the headlines from the last 7 days.

• Americans’ outlook on the economy weakened last month. Read more about this below.
• Prices rose by the most in nearly a year last month, according to the Federal Reserve’s preferred price gauge . The central bank has indicated a readiness to cut rates after raising them 11 times since March 2022 to rein in price growth. Experts still expect gradual cuts within the year even with this development.
• The number of people with disabilities participating in the U.S. workforce reached a new high in 2023, recent Bureau of Labor Statistics data shows . A record of 22.5% people with disabilities, including physical, intellectual, visual or hearing impairments, were employed last year, up 1.2% from 2022’s numbers.
• Home prices hit record highs in December, with a 5.5% year-over-year increase,? according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index . The news is encouraging for homeowners who previously locked in low rates and plan to stay put, but low inventory rates coupled with elevated interest rates are putting first-time buyers in a tough spot.

• Workers feel recognized on the job, mostly. A new survey showed about 62% of workers feel appreciated at work, with 56% saying their employers acknowledge their birthdays and other milestones. Even still, about 1 in 4 workers reports feeling underappreciated, with younger workers more likely to feel less valued.
• People who can work flexibly are increasingly wary of doing so, a new survey from the Harris Poll showed. About 52% of hybrid workers reported spending more time on-site these days out of fear of layoffs or limited chances at promotion.

Take a closer look at recent trending topics — and engage with meaningful conversations happening on LinkedIn.

How Americans are feeling about the economy

• Consumer confidence unexpectedly dipped last month, as Americans’ outlook on the economy weakened. A final reading of the University of Michigan’s monthly sentiment index fell to 76.9 from 79.6 in January. The gauge is currently about 8 points below the average for the past 50 years. Sentiment had climbed in recent months as inflation receded and the prospect for interest rate cuts by the Federal Reserve improved.
• “We are not concerned about the softer data or the unusual spike in inflation in the first two months of the year, given the seasonal fluctuations at play,” Tuan Nguyen, an economist at RSM, explained . “Examining all recent data over a longer time horizon, it seems more likely that the economy is cooling down from a robust second half of last year rather than accelerating,” he continued.“This scenario is more consistent with a soft landing, which we anticipate will solidify around mid-year.”?
• Other economists are feeling more hopeful, as well. In its latest survey , the National Association for Business Economics “sharply revised upwards” its projections for America’s growth, boosting its median GDP forecast and lowering its unemployment forecast. The next relevant signal comes Friday, with February’s jobs report showing the latest unemployment rate and how many jobs were added to the economy.

How money woes play into economic sentiment

• Even though economists’ outlooks aren’t so gloomy, Americans’ worries about the economy also translate to concerns about personal finances. More than half of Americans say they “always” worry about money, even when they can comfortably handle expenses, according to a new survey from Wells Fargo. About 67% also said they have had to cut back on spending in the current economy.
• These concerns are prevalent among teenagers as well, with 73% of Americans ages 14 to 17 saying they overthink about how much money they have. Brooke Dedmon, an HR professional, commented this could be a positive development, inspiring many to “create a healthy habit of budgeting, saving, planning and investing,” earlier in life.?
• Meanwhile, it’s getting harder to amass wealth. To reach the 1% this year, for example, an American would need to have a net worth of $5.8 million. That’s up from last year’s $5.1 million, an increase of nearly 15%, according to the latest wealth report from Douglas Elliman and Knight Frank.

How career breaks differ for women

• Nearly 43% more women have a career break listed on their LinkedIn profiles than men, according to a new analysis from LinkedIn’s Economic Graph team. The most common reason women take a break? Full-time parenting. That’s the seventh ranked rationale for men, falling behind retirement, a career transition, professional development and more.
• The median length of time a mom will take to parent full-time is over three years — men’s breaks are typically much shorter. A larger gap on a woman’s resume “does not mean you’re at a disadvantage,” says Reshma Saujani , the founder and CEO of Moms First. She recommends moms returning to the workforce lean into transferable skills they’ve honed as a parent, including multitasking and time management.

• Not only are women more likely to take a career break, they also don’t seem to be climbing the corporate ladder like men. Women hold just over a third (34%) and over a quarter (27%) of VP and C-suite positions in the U.S., respectively.?
• Friday marks International Women’s Day — a global celebration of women’s achievements and a calling of attention to issues that disproportionately affect women around the world. Share your stories using the hashtag #IWD2024: What has been your personal pathway into a leadership role

Get ready for the week by seeing what's coming up.

Tuesday, March 5:

• The Institute for Supply Management will release its monthly Purchasing Managers’ Index, which tracks if the non-manufacturing sector is expanding.

Wednesday, March 6:

• The Bureau of Labor Statistics will release the Job Openings and Labor Turnover survey for January, which measures job vacancies across industries.
• Fed Chair Powell will testify on the economic outlook and recent monetary policy actions before the Joint Economic Committee in Washington, D.C.?

Thursday, March 7:

• The U.S. Department of Labor will release initial jobless claims for the previous week. The report, a proxy for layoffs, tracks the number of people filing for unemployment benefits.

Friday, March 8:

• The Bureau of Labor Statistics will release the February jobs report. The monthly release tracks the unemployment rate and how many jobs were added to the economy.