According to the Conference Board, the decline seen in September was the largest month-to-month decrease since August 2021.
Consumer confidence across the United States declined in September amid ongoing concerns about the current state of the job market.On Tuesday, the Conference Board, a business research group, released a report showing that its consumer confidence index levels fell to 98.7 in September, a decrease from the 105.6 figure recorded in August. The survey was completed before the Federal Reserve unexpectedly decided to implement a larger-than-anticipated half-point interest rate cut last week.
Employers added 142,000 jobs in August, a modest increase from July's weaker gain of 89,000. The unemployment rate edged down to 4.2 percent from 4.3 percent, which had marked its highest point in nearly three years. Hiring figures for June and July were revised downward by a combined 86,000 jobs, with July's numbers representing the smallest monthly gain since the pandemic began.
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