The Conference Board's consumer confidence index slipped to 102.3 this month, the lowest level since last November, from an upwardly revised 103.7 in April.
The cutoff date for the survey, which places more emphasis on the labor market, was May 22.
The survey's so-called labor market differential, derived from data on respondents' views on whether jobs are plentiful or hard to get, fell to 31.0, the lowest since April 2021, from 36.9 in April, suggesting the labor market was loosening up.
More timely data like first-time applications for state unemployment benefits suggests the labor market remains tight, but is gradually easing.
"Investors should expect Friday's job report to reveal emerging cracks in the labor market."
Persons:
Christopher Rupkey, Joe Biden, Kevin McCarthy, Jeffrey Roach, Nicole Bachaud, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci, Paul Simao
Organizations:
Labor, Conference, Social Security, Medicare, Reuters, University of, Republican U.S . House, Sunday, U.S . Labor Department, LPL, Treasury, Federal Reserve, National Association of Realtors, Federal Housing Finance Agency, Thomson
Locations:
WASHINGTON, New York, North Carolina, U.S, Seattle