Feeling the Pinch: How Job Fears Are Shaking Consumer Confidence

People are feeling less sure about the economy and their own futures. A recent survey shows that worries about finding a job are growing. The survey's main number, which measures how people feel about the economy, dropped to 88. 7 in November. This is the lowest it's been since April and a big drop from the month before. The survey also asked people about their hopes for the future. Those hopes fell even more, dropping by 8. 6 points. People are feeling less good about the current situation too, with that number slipping by 4. 3 points. Experts say people are especially worried about finding jobs in the next six months. They're also less hopeful about making more money, even though they were feeling pretty good about that just a few months ago. The survey also asked people about jobs. Fewer people think jobs are easy to find. Only 6% said jobs are "plentiful, " down from 28. 6% in October. This shows that people are feeling the effects of a tough job market. Another question showed that 17. 9% of people think jobs are "hard to get, " which is a small drop but still not great. This news comes at the same time as reports that private companies have been cutting jobs. The survey also matches other signs that people are feeling less confident. For example, another survey by the University of Michigan showed that people's feelings about the economy dropped by 4. 9% in November and are down by 29% from a year ago. The Federal Reserve, which controls interest rates, has been talking about lowering rates. People who trade stocks think there's a good chance the Fed will lower rates in December. The survey also showed that people are worried about prices, inflation, trade, and politics. More people are also talking about the government shutdown. People expect inflation to be high, predicting a 4. 8% rate in the next year. This is higher than the Fed's target of 2%. But people are also feeling good about the stock market, expecting it to do well in the next year. The government shutdown has made it hard to get good economic data. Government agencies stopped collecting and releasing data during the shutdown. Now, only a few old reports are coming out.