Consumer sentiment falls to lowest level since May amid job market concerns

Consumer sentiment soured in September, and inflation expectations ticked up again, worrying signs for the economy.

Consumer sentiment fell to 55.4, down from 58.2 in August and below economists’ expectations, according to a preliminary reading of the University of Michigan Consumer Sentiment Index for September. Consumer sentiment is now down 21% from a year ago. September marked the lowest such reading since May.

“This month’s easing in economic views was particularly strong among lower and middle-income consumers,” said Joanne Hsu, the survey director. “Consumers continue to note multiple vulnerabilities in the economy, with rising risks to business conditions, labor markets, and inflation.”

The new numbers come amid indications that the labor market is sputtering.

The economy added just 22,000 jobs in August, and the unemployment rate rose to 4.3%. Also, the July jobs report revealed

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