SemiAnalysis: Consumer Confidence Weakens, Labor Market Resilience Remains

SemiAnalysis points out that consumer confidence in the U.S. continues to decline, but the labor market has not shown a corresponding significant deterioration. The voluntary resignation rate remains low, with industrial manufacturing job vacancies increasing over the past six months, while job vacancies in the information services sector have decreased significantly. AI-induced panic is first impacting low-barrier industries, shifting economic growth from consumption to investment, even though large-scale unemployment has not yet occurred. With a low voluntary resignation rate and weak confidence, this month's non-farm employment has fallen to about 110,000, which may still suppress the unemployment rate, leading the Federal Reserve to maintain a wait-and-see approach. Source: Public Information