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Conf. Board Labor Market Differential Consolidates Sizeable Decline

US DATA
  • Conference Board consumer sentiment was softer than expected in Sept at 103.0 (cons 105.5) with the decline amplified by an upward revised 108.7 in Aug (initially 106.1).
  • It’s back at levels seen through Feb-May.
  • Within the survey, the labor market differential consolidated last months surprisingly abrupt decline, only ticking up to 27.3 from a marginally upward revised 26.7 (initial 26.2). This differential is back below levels seen prior to the pandemic.
  • Whilst moving from relatively narrow levels, the 13.6% finding jobs hard to get is the highest since Nov’22 and before that Apr’21.

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