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US consumer confidence drops slightly due to employment and income concerns

Internet reported that the U.S. consumer confidence index fell slightly in August as people's concerns about employment prospects intensified. Data on Tuesday showed that the U.S. Consultative Conference Board's consumer confidence index fell to 97.4 in August. A sub-indicator that measures expectations for the next six months fell in August, while the current situation index fell to its lowest level since April. Consumer confidence continues to be well below pre-epidemic levels, and the recent slowdown in the labor market has exacerbated economic concerns triggered by Trump's tariff policies. Employment growth and wage growth have slowed down significantly, and the difficulty of re-employment for unemployed people continues to increase. The proportion of consumers who believe that "jobs are difficult to find" has increased for the second consecutive month, reaching the highest level since 2021; the proportion who believe that "jobs are sufficient" is basically flat. The difference between the two indicators, an important measure used by economists to measure the labor market, narrowed slightly, continuing a steady downward trend over the past three years.

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