US consumer confidence falls sharply to 94.2 in September amid employment concerns
Summary
- The US consumer confidence index for September was 94.2, falling sharply versus market expectations and the previous month.
- Job insecurity intensified, causing consumers' evaluations of labor market conditions to fall for nine consecutive months.
- The proportion who responded that jobs are plentiful decreased to the lowest level since February 2021.
Falls well below market expectations, ninth consecutive monthly decline
Employment concerns have grown, and US consumer confidence fell sharply in September.
On the 30th (local time), The Conference Board announced that the September consumer confidence index fell from the previous month's revised 97.8 to 94.2. This is the lowest level since April.
The indicator reflecting current conditions also fell by 7 points to its lowest level in a year, and expectations for the next six months also declined further.
This was worse than economists' prediction that it would fall to 96.0 in September.
This appears to be mainly due to increased job insecurity. Consumers' assessments of labor market conditions have fallen for nine consecutive months since President Trump's inauguration. According to The Conference Board report, the share of consumers who said jobs are plentiful fell to its lowest level since February 2021.
Kim Jeong-a, guest reporter kja@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.![Trump ally Myron, a Fed governor, resigns White House post…pushing for rate cuts until Warsh arrives? [Fed Watch]](https://media.bloomingbit.io/PROD/news/75fa6df8-a2d5-495e-aa9d-0a367358164c.webp?w=250)
![Did it crash because of Trump?…The 'real reason' Bitcoin collapsed [Hankyung Koala]](https://media.bloomingbit.io/PROD/news/d8b4373a-6d9d-4fb9-8249-c3c80bbf2388.webp?w=250)