US Consumer Confidence Nosedives Amid Growing Concerns Over Job Security

U.S. consumer confidence plummeted in September as job security concerns and a weakening labor market fueled growing economic pessimism.

Used cars displayed at a dealership in New York on June 10, 2022. Spencer Platt/Getty Images

U.S. consumer confidence took a sharp dive in September, driven by rising concerns over job security and a softening labor market.

The Conference Board reported on Sept. 24 that its consumer confidence index fell to 98.7, down from a revised 105.6 in August, marking the steepest drop in just over three years.