US consumer confidence falls hard in November
WASHINGTON (AP) — Confidence in the economy eroded this month as Americans became more worried about the job market.
A business research group's consumer confidence index fell to 90.4 in November, down from 99.1 in October.
The share of Americans surveyed by the Conference Board anticipating more jobs in the coming months fell. Fewer people also expect to see their incomes increase. The percentage describing jobs as "plentiful" declined to 19.9 percent from 22.7 percent.
The decline in the confidence index comes after a robust month of hiring in October. Employers added 271,000 jobs last month as the unemployment rate settled at a healthy 5 percent.