U.S. consumer confidence dips slightly due to concerns over employment and income

Jinse Finance reported that the U.S. Consumer Confidence Index saw a slight decline in August, as public concerns over employment prospects intensified. Data released on Tuesday showed that the U.S. Conference Board Consumer Confidence Index fell to 97.4 in August. The sub-index measuring expectations for the next six months declined in August, while the current situation index dropped to its lowest level since April. Consumer confidence remains well below pre-pandemic levels, and the recent slowdown in the labor market has heightened economic concerns triggered by Trump’s tariff policies. Job growth and wage increases have slowed significantly, and it is becoming increasingly difficult for the unemployed to find new jobs. The proportion of consumers who believe “jobs are hard to get” rose for the second consecutive month, reaching its highest level since 2021; the proportion who believe “jobs are plentiful” remained basically unchanged. The difference between these two indicators—an important measure of the labor market used by economists—narrowed slightly, continuing the steady downward trend of the past three years.