SurveysAug 28, 2024
Consumer Confidence Rises in August Despite Labor Market WorriesSurveysSep 25, 2024
Consumer Confidence Falls in September, Labor Market Worries Persist
Respondents also showed a greater preference for buying goods over services.
The Conference Board’s consumer confidence index fell to 98.7 in September from an upwardly revised 105.6 in August.
New York—U.S. consumer confidence fell in September as consumers continued to express concerns about the job market.
The Conference Board’s monthly consumer confidence index decreased to 98.7 in September from an upwardly revised 105.6 in August.
“Consumer confidence dropped in September to near the bottom of the narrow range that has prevailed over the past two years,” said Dana M. Peterson, chief economist at The Conference Board.
“September’s decline was the largest since August 2021 and all five components of the index deteriorated. Consumers’ assessments of current business conditions turned negative while views of the current labor market situation softened further. Consumers were also more pessimistic about future labor market conditions and less positive about future business conditions and future income.”
Write-in responses about politics and the November elections remained below 2020 and 2016 levels in September.
Consumers aged 35 to 54 saw the steepest drop in confidence, making the group the least confident on a six-month moving average basis. Those under 35 remained the most confident.
By income group, consumers earning less than $50,000 saw the largest decrease in confidence. On a six-month moving average basis, consumers earning more than $100,000 remained the most confident.
“The deterioration across the Index’s main components likely reflected consumers’ concerns about the labor market and reactions to fewer hours, slower payroll increases, fewer job openings—even if the labor market remains quite healthy, with low unemployment, few layoffs, and elevated wages,” said Peterson.
Related stories will be right here …
The Conference Board’s monthly consumer confidence index decreased to 98.7 in September from an upwardly revised 105.6 in August.
“Consumer confidence dropped in September to near the bottom of the narrow range that has prevailed over the past two years,” said Dana M. Peterson, chief economist at The Conference Board.
“September’s decline was the largest since August 2021 and all five components of the index deteriorated. Consumers’ assessments of current business conditions turned negative while views of the current labor market situation softened further. Consumers were also more pessimistic about future labor market conditions and less positive about future business conditions and future income.”
Write-in responses about politics and the November elections remained below 2020 and 2016 levels in September.
Consumers aged 35 to 54 saw the steepest drop in confidence, making the group the least confident on a six-month moving average basis. Those under 35 remained the most confident.
By income group, consumers earning less than $50,000 saw the largest decrease in confidence. On a six-month moving average basis, consumers earning more than $100,000 remained the most confident.
“The deterioration across the Index’s main components likely reflected consumers’ concerns about the labor market and reactions to fewer hours, slower payroll increases, fewer job openings—even if the labor market remains quite healthy, with low unemployment, few layoffs, and elevated wages,” said Peterson.
The Present Situation Index, which measures consumers’ current view of business and labor market conditions, fell to 124.3 in September from 134.3 in August.
Consumers’ assessments of current business conditions were more negative in September and their view of the labor market weakened.
The Expectations Index, which measures consumers’ outlook for income, business, and labor market conditions in the near future, fell to 81.7 from an upwardly revised 86.3 in August.
It remained above 80, said the Conference Board, noting a reading below 80 normally signals a recession in the near future.
Consumers were less optimistic about business conditions in September, while their outlook on the labor market and their income prospects were also more pessimistic.
They also were less optimistic about their family’s current and future financial situation, a measure not included when calculating the Present Situation and Expectations Index.
The “Consumers’ Perceived Likelihood of a U.S. Recession over the Next 12 Months” metric was higher in September but well below the May 2020 peak.
“The proportion of consumers anticipating a recession over the next 12 months remained low but there was a slight uptick in the percentage of consumers believing the economy was already in [a] recession,” added Peterson.
Consumer plans to buy big-ticket appliances were mixed, and plans to buy a smartphone or a laptop/PC in the next six months eased.
On a six-month moving average basis, purchasing plans for homes and new cars did improve slightly.
When consumers were asked about plans to buy more goods or services over the next six months, consumers showed a slightly greater preference for purchasing goods.
There was a new question about services in this month’s survey, which showed consumers were still interested in traveling and dining out in September.
Though consumers were still interested in streaming entertainment at home, interest in going to the movies rose in recent months.
Planned spending for non-discretionary services like health care and utilities was also strong over the next 6 months.
More on Surveys
The Latest
SourcingMar 25, 2026
Rob Bates Steps Down as JCK News Director After 28 years with JCK, the veteran industry journalist is launching his own publication on Substack called The Jewelry Wire.
GradingMar 25, 2026
New York’s Natural History Museum, Wiley To Build Minerals DatabaseWiley said the project will give scientists worldwide access to the American Museum of Natural’s History renowned mineral collection.
CollectionsMar 25, 2026
Boochier Turns Flower Friendship Bracelets Into Fine JewelryThe “Flower Puff” collection looks to beaded flower friendship bracelets from childhood, turning the silhouette into nostalgic fine jewelry.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
Policies & IssuesMar 25, 2026
Community for Ethical Jewelry to Host Bench Jeweler Shortage WebinarSet for April 2, the webinar will discuss how the jewelry industry can address the workforce gap.
Weekly QuizMar 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsMar 24, 2026
Lisa Bayer, Illustrator and Beloved Member of the Muse Family, Dies at 64Bayer, founder of Lisa Bayer Designs, is remembered as “a bright light in every room.”
AuctionsMar 24, 2026
White Diamonds Shine In Christie's Jewels Online SaleThe highest-grossing lot was a Tiffany & Co. ring set with a flawless, emerald-cut diamond of 10 carats.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
SourcingMar 24, 2026
AGTA Solidifies Tucson Dates For 2027-2029The next three editions of AGTA GemFair Tucson will feature a five-day show that includes Sunday.
WatchesMar 24, 2026
Christie’s Names New Senior Specialist, WatchesFormer Sotheby’s executive Tom Heap has taken on the London-based role.
CrimeMar 23, 2026
NYPD Looking for 3 Jewelry Store Robbery SuspectsThe group of women allegedly robbed two Catbird stores and one Gorjana location on the afternoon of March 9.
FinancialsMar 23, 2026
Movado’s Q4 Sales Rise As Demand Grows From Younger Shoppers, WomenMovado CEO Efraim Grinberg noted continued strength in the fashion watch and accessible luxury segments in the U.S.
TrendsMar 23, 2026
Marco Bicego’s New Campaign Showcases ‘The Art of Craft’After celebrating 25 years in 2025, the campaign marks a new chapter for the jewelry brand with the message that “Identity Creates Value.”
Events & AwardsMar 23, 2026
These Watch Brands Are Heading to Couture This YearCouture and Time to Watches announced the watch brands, from big names to independents, attendees will see at the show.
FinancialsMar 20, 2026
Macy’s Turnaround Plans Shows Promise, Boosted by Bloomingdale’sPlus, why Saks Global’s bankruptcy may have given Bloomingdale’s an edge.
AuctionsMar 20, 2026
Sotheby's, De Beers Unveil ‘Jwaneng 28.88’ DiamondThe flawless, Type IIa stone is estimated to achieve up to $2.8 million at the auction house’s high jewelry sale in April.
TrendsMar 20, 2026
‘Frankenstein’ Costume Designer Is Bejeweled In Brooches for Oscars WinCostume designer Kate Hawley wore three archival Tiffany & Co. brooches, our Pieces of the Week, while accepting her first Oscar.
FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
SourcingMar 18, 2026
Lucara Recovers Nearly 37-Carat Blue DiamondThe “stunning” Type IIb stone was found via x-ray technology at its Karowe mine in Botswana.
MajorsMar 18, 2026
Stuller Releases New Edition of Jewelry Education Book“The Basics of Jewelry” has been updated to include modern topics and visuals.
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
