Consumer confidence hits lowest point since April as job worries grow

Consumers are dissatisfied with the current economy and their prospects for the future, while concerns about finding a job are rising, according to a Conference Board survey released Tuesday.

Board of Directors Consumer Confidence Index In November, it decreased by 6.8 points compared to the previous month to 88.7, seeing its lowest value since April. Economists polled by Dow Jones expected a reading of 93.2.

In addition, the expectation index decreased by 8.6 points to 63.2, and the current situation index decreased by 4.3 points to 126.9.

“Consumers were significantly more pessimistic about business conditions six months from now,” said Dana Peterson, the board’s chief economist. “Mid-2026 expectations for labor market conditions remained decidedly negative, and after six months of strong positive readings, expectations for rising household incomes have diminished significantly.”

A key reading in the report measuring job prospects showed deterioration.

The share of workers who say jobs are “plenty” fell to 6% from 28.6% in October, reflecting the current “no hiring, no firing” business environment in other data points. Another question about whether jobs are “hard to find” dropped 0.4 points to 17.9%.

These results came on the same day payroll processing company ADP reported that private companies had cut an average of 13,500 jobs over the past four weeks. Moreover, the Conference Board survey is consistent with other metrics that show weakening sentiment among consumers.

For example, University of Michigan’s susceptibility meter It fell 4.9% month-on-month in November, down 29% from a year ago.

The weakening numbers coincided with public statements by some key Federal Reserve officials who believed further interest rate cuts were necessary. Investors are pricing in a high probability that the Fed will cut the key borrowing rate by another quarter point in December.

In the Conference Board poll, Peterson noted weakness across income and political groups.

“Consumers’ written responses about factors affecting the economy continued to be driven by references to prices and inflation, tariffs, trade and policy, along with increased mentions of the federal government shutdown,” Peterson said. “The mention of the labor market has diminished somewhat, but it still stands out among all the other themes that were not touched upon before.”

Inflation expectations rose; respondents predict a rate of 4.8% a year from now, well above the Fed’s 2% target and 4.5% above the Michigan poll outlook. Participants also expressed “strongly positive” expectations for the stock market next year.

Economic data has been disrupted by the recently ended lockdown. Government agencies responsible for the reports have suspended all data collection and publication as the stalemate continues, with mostly dated reports arriving in recent days.