Part 5/10:
A revealing statistic is that less than 25% of federal jobs are concentrated in Washington D.C., Maryland, and Virginia, suggesting a widespread risk across the country. Local economies that rely heavily on federal employment, like Huntsville, must prepare for potential downturns.
Deteriorating Consumer Confidence
Diving deeper into consumer sentiment, the University of Michigan’s consumer sentiment survey indicates that perceptions of the economy are at one of their lowest historically since the inflation peaks in 2022. The rising belief that unemployment will increase is concerning, especially since similar sentiments preceded economic downturns in the past.