Survey: Americans are worried about their finances

(CNN)– A new survey shows a greater number of Americans are worried about their finances.

The Federal Reserve Bank of New York finds that more respondents felt “somewhat” or “much” worse off in May compared to a year earlier.

The share of people feeling that way is the largest it has been since January 2023.

The flip-side of the question indicates feeling better off is at a multi-year low.

While the May jobs report indicates the labor market is strong, the Iran war is driving up some consumer costs.