Consumer confidence reaches six-month high, but labor market worries rise

Published On Aug 28, 2024, 1:24 AM

Consumer confidence in the U.S. has risen to its highest level in six months, reflecting improved optimism about the economy, despite increasing concerns over the labor market as the unemployment rate edged up to 4.3%. A recent Conference Board report indicates that while consumers are more positive about current and future business conditions, they also express unease regarding job availability. This mixed sentiment suggests the likelihood of a recession is decreasing, although the situation in the labor market remains a pivotal concern for consumers' confidence and expectations.