WASHINGTON (AP) — American consumers are feeling less confident this month as concerns about jobs rose significantly.
The Conference Board , a business research group , said Tuesday that its consumer confidence index fell to 98.7 in September, from 105.6 in August. It was the biggest month-to-month decline since August of 2021.
“Consumers’ assessments of current business conditions turned negative while views of the current labor market situation softened further,” said Dana Peterson, the Conference Board’s chief economist. Consumers were also more pessimistic about future labor market conditions, Peterson said.Employers added a modest 142,000 jobs in August, up from an even weaker 89,000 in July. The unemployment rate ticked down to 4.2% from 4.3%, which had been the highest level in nearly three years.
Fed policymakers also signaled that they expect to cut their key rate by an additional half-point in their final two meetings this year, and they envision four more rate cuts in 2025 and two in 2026. A Texas county that wants to keep 17 books off its shelves — some dealing humorously with flatulence and others with issues including sex, gender identity and racism — argued its case Tuesday before 18 federal appeals court judges amid questions on whether the rights of the patrons or county officials were at risk. Library patrons filed suit in 2022 against numerous officials with the Llano County library system and the county government after the books were removed.
In his final speech as president to the United Nations General Assembly, Biden, 81,reflected on the "remarkable sweep of history" that he's witnessed.TORONTO — Governor Tiff Macklem says he is pleased that inflation has fallen to two per cent, but the Bank of Canada now has to "stick the landing" and keep price growth centred around the target.
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