Consumer Confidence Plummets, Job Market Stuck
Update: 2025-12-23
Description
Consumer confidence plummets in December, reaching levels not seen since April, as the Conference Board reports a drop in its index to 89.1. Short-term expectations for income, business, and jobs remain steady but are still below the 80 mark, indicating potential trouble ahead. Current economic situation views have significantly worsened, with consumers expressing concerns about prices, inflation, and tariffs. Job market perceptions have also deteriorated, with fewer people reporting plentiful jobs and more struggling to find employment. The economy added 64,000 jobs in November but lost 105,000 in October, leading to an unemployment rate of 4.6%, the highest since 2021. The labor market is described as stuck in a low hire, low fire rut, with businesses hesitant to hire due to tariff uncertainty and high interest rates. Job growth has slowed significantly since March, and further revisions are expected.
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