US Consumer Confidence Slips to Six-Month Low; Worries Over Job Availability Rising
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U.S. consumer confidence eased to a six-month low in October amid worries about the availability of jobs in the near-term, offering more ammunition for the Federal Reserve to cut interest rates again on Wednesday.
The Conference Board survey on Tuesday also confirmed what economists describe as a K-shaped economy, with confidence declining among consumers making an annual income of less than $75,000, but consumers earning more than $200,000 a year more upbeat. Economists argue that high-income households are keeping the economy afloat through robust consumer spending.
Lower-income households are struggling to make ends meet amid...
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