Washington CNN —America’s slowing job market is taking a toll on people’s moods.
The Conference Board’s latest consumer survey showed that Americans became much more pessimistic about the US economy’s current health and the future of the job market.
“September’s decline was the largest since August 2021 and all five components of the Index deteriorated.”The US job market is in decent shape, but it is clearly running at a much slower pace these days than it has in recent years.
Peterson said the weaker-than-expected survey results “reflected consumers’ concerns about the labor market and reactions to fewer hours, slower payroll increases, fewer job openings — even if the labor market remains quite healthy, with low unemployment, few layoffs and elevated wages.”The job market’s fate is unclear.
Employers might be holding back on hiring for two good reasons: Uncertainty over the upcoming US presidential election and the fate of interest rates, CNN previously reported.
Persons:
”, Dana Peterson, mightily, Peterson, Jerome Powell, Kamala Harris, Donald Trump
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