Americans are feeling more uneasy about the economy and job market. In October, U.S. consumer confidence fell for the third month in a row, signaling that people are growing more cautious about the nation’s financial outlook.
The Conference Board reported that:
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The overall confidence index dropped to 94.6, the lowest since April.
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Expectations for the next six months fell to 71.5, the weakest since June.
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Views of current conditions improved slightly but remain below last year’s levels.
Economic Worries Deepen
The report highlights growing concern over:
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Slower job growth — hiring has cooled across many industries.
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High inflation — prices remain above the Federal Reserve’s target.
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Political uncertainty — ongoing trade and tariff policies under President Donald Trump have created more instability.
Andy Owens, president of A&M Transport, summed up the general feeling: “We’re in the third year of an extended freight recession, and the pain is real.”
Job Market Feels Unsteady
The job market is showing mixed signals:
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18.4% of consumers said jobs are hard to get, up slightly from last month.
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27.8% said jobs are plentiful, showing some optimism but not enough to balance overall worry.
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Economists note the gap between these two numbers widened, indicating a cooling labor market.
Other key takeaways:
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More consumers expect fewer job openings in the months ahead.
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Fewer expect their incomes to rise soon.
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While fewer people expect a recession in the next year, more now believe it has already started.
Inflation and Politics Weigh on Confidence
According to Stephanie Guichard, senior economist at the Conference Board:
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“Prices and inflation continued to be the main topic influencing consumers’ views of the economy.”
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References to politics have increased sharply, with many respondents citing the ongoing government shutdown as a major concern.
The shutdown has also limited the release of new economic data, leaving policymakers and investors with fewer insights during a critical time. Despite this, Federal Reserve officials are expected to lower interest rates again to support the job market and encourage growth.
Spending Holds Up — For Now
Even as confidence falls, Americans are still spending:
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Household spending stayed strong through the summer months.
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Retail sales for July and August showed steady performance.
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Purchases of big-ticket items like homes, cars, and appliances slowed.
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Vacation plans actually increased, suggesting consumers are prioritizing experiences over large purchases.
Overall, the data shows that Americans are increasingly cautious about the economy, job security, and rising costs. Confidence may be slipping, but steady consumer spending continues to provide some support for the U.S. economy.
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