According to the Conference Board, the difference between the share of Americans saying that jobs are plentiful and those saying they are hard to get has indeed declined to 16.4%, the narrowest since March 20211. This measure, known as the labor market differential, often correlates with the unemployment rate.
While consumer confidence has reached a six-month high, concerns about the labor market have risen. The unemployment rate has recently increased to 4.3%, the highest in nearly three years. Historically, such trends in consumer perceptions have been leading indicators for higher unemployment rates.
finance.yahoo.com/news/us-consumer-confidence-rises-august-141644495.html
The final straw that breaks the camels back of the economy will be when unemployment surpasses 5% nationally (on its way to 6%). Home prices are going to crash like a ton of bricks.
— Sold At The Top (@soldatthetop) September 2, 2024
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