The Conference Board reports US Consumer Confidence Declines Again in September

Key Points

• US consumer confidence fell in September to a five-month low on growing concerns about job prospects and the broader economy.
• A gauge of present conditions fell to the lowest level in a year, while a measure of expectations for the next six months also dropped in September.
• Expectations are below the threshold of 80 that typically signals a recession ahead since February 2025.

Bloomberg reports US Consumer Confidence Falls to Five-Month Low on Job Concerns

US consumer confidence fell in September to a five-month low on growing concerns about job prospects and the broader economy.

The Conference Board’s gauge of confidence decreased 3.6 points to 94.2, data released Tuesday showed. The median estimate in a Bloomberg survey of economists called for a reading of 96.

A gauge of present conditions fell 7 points to the lowest level in a year, while a measure of expectations for the next six months also dropped in September.

The Conference Board’s report showed the share of consumers saying jobs were plentiful declined to the lowest level since February 2021. The share that said jobs were hard to get was unchanged.

The difference between these two — a metric closely followed by economists to gauge the job market — narrowed to the smallest since early 2021.

“Consumers’ assessment of business conditions was much less positive than in recent months, while their appraisal of current job availability fell for the ninth straight month to reach a new multiyear low,” Stephanie Guichard, senior economist at the Conference Board, said in a statement.

Jobs Sentiment Is No Surprise

September 4, 2025: Year-Over-Year Small Business Employment Growth Barely Above Zero

ADP reports the total YOY small business growth as +19,000.

The Unemployment Level Is Now Greater than Job Openings

On September 3, I noted The Unemployment Level Is Now Greater than Job Openings

For the first time since the pandemic unemployment is above openings.

The nonfarm payroll response rate is 42.6 percent with the same issues as with JOLTS

Expect more negative revisions.

Jobs Report Misery: Only 22,000 Gain in August, June Revised to -13,000

August was a bad month for job seekers. Here are the grim details.

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