AI Summary
5 min readConsumer confidence fell in September to its lowest level in more than twelve years, the Conference Board reported Tuesday. That single data point is the center of gravity for today’s episode of Marketplace, which also covers the second-quarter GDP revision, a flat labor market, and a deep dive into how companies use personal data to charge different prices to different people. The dominant theme is uncertainty—businesses are hesitant to hire, consumers are increasingly worried, and the mechanisms that have kept spending afloat may be running out of runway.
Consumer confidence hits a 12-year low
The Conference Board’s consumer confidence index fell again in September, continuing a multi-year downward trend. Yelena Shulyatyeva at the Conference Board cautioned that one month of data can be an anomaly, but as host Kai Ryssdal put it, “it’s not just one month of data. Confidence has been trending downward for years.” Consumers are now planning to spend less, particularly on discretionary items.
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What you'll learn
- 1 (01:48) **GDP Preview: Third and Final Estimate** - What to expect from tomorrow's Bureau of Economic Analysis report on second-quarter growth
- 2 (04:25) **JOLTS Report: Hiring Is "Meh"** - Job openings, hires, quits, and layoffs were all essentially flat in the latest data
- 3 (07:13) **Consumer Confidence Plunges to 12-Year Low** - The Conference Board's September data shows deepening pessimism across all measures
- 4 (10:37) **Interview: Lindsey Owens on "Gouged"** - The Groundwork Collaborative CEO discusses personalized pricing and the end of fair prices
- 5 (15:58) **Market Close & Travel Demand** - Dow, NASDAQ, and S&P 500 all down slightly; cruise stocks surge
- 6 (20:12) **Gulf Coast Shrimping Industry in Crisis** - High diesel prices and low shrimp prices are keeping boats docked and threatening the industry's future
- 7 (24:23) **Clock Down: The Great Resignation Revisited** - A 32-year-old woman in Louisiana explains why she quit her career to go back to school for architecture
+ Full timestamped outline available in the app
Guests on this episode
Show Notes
Consumer confidence fell to a 12-year low in September, according to The Conference Board. The index has been trending down for a couple years, but this latest decline was steep. One reason? Upper-middle class respondents are starting to feel the pressure, too. Also in this episode: The economic forces behind GDP growth might run out of steam soon, the low-hire low-fire labor market marches on, and high diesel prices keep some Gulf shrimpers on dry land.
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Read the stories in today’s episode:
- How long can the economy keep growing?
- The latest JOLTS survey shows more of the same low-hire, low-fire economy
- Consumer confidence falls to its lowest level in 12 years, survey shows
- The price tag might be an endangered species
- High diesel prices force some Gulf shrimpers to stay docked
- New career path, new baby, no problem
More from this podcast
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