Americans grew 'more pessimistic' about the job market in August while overall confidence rose

Published On Aug 27, 2024, 11:13 AM

In August, Americans expressed increasing concerns about the job market, reflected in data from the Conference Board, which found a rise in overall consumer confidence from 101.9 to 103.3. However, worries about labor demand cooling persisted, with fewer people believing jobs were plentiful. The unemployment rate reached 4.3%, and the market added just 114,000 jobs in July, prompting fears of further weakening. Consumers' outlook on future income was also less optimistic, alongside a mixed sentiment towards the stock market, with less than half anticipating price increases in the year ahead. Economists are closely watching upcoming job reports for further insights into these trends.