Jobs are harder to get and fewer are planning to buy homes or cars, says The Conference Board CEO

Economic Overview - The Conference Board's consumer confidence index has declined for the fifth consecutive month, indicating a negative trend in consumer sentiment [2] - The index consists of two components: the present situation and the expectations index, with the latter showing a significant shift as consumers now express concerns about future economic conditions [2][3] Consumer Confidence Insights - For the first time this year, the expectations index has flipped, with consumers feeling that their current situation is good but anticipating a decline in the future [3] - Consumer confidence varies significantly by income level; those earning below $125,000 annually reported a decrease in confidence, while those above this threshold experienced an increase [4] Economic Disparities - There are two distinct economic experiences: high-income consumers are driving spending, while lower-income consumers are feeling the strain [4][5] - The current economic landscape is characterized by rising food prices despite decreasing gas prices, leading to consumer disappointment regarding inflation expectations [6] Small Business Challenges - Small businesses, which often operate on personal credit, are facing significant challenges, contrasting with larger businesses that are performing well [8] - The burden of tariffs is highlighted as a regressive tax impacting lower-income Americans and small businesses, suggesting a need for potential policy adjustments [7][9] Labor Market Dynamics - The labor market is showing signs of weakness, particularly in the service sector, which is unusual for a traditionally manufacturing-driven economy [11] - Despite the weakening labor market, productivity in the service sector is contributing positively to economic indicators, indicating a shift in economic structure [11]