Job Market Optimism Hits 15-Year Low in US and Canada
Source: Semafor
Gallup's data shows consumer confidence in employment prospects has cratered from 70% in 2019 to 47% today—a collapse that directly undermines discretionary spending and brand loyalty among working-age adults who drive consumer markets. This reflects structural anxieties about wage stagnation, gig work proliferation, and skill obsolescence that persist even as headline unemployment figures appear stable. Consumer behavior remains defensive and price-sensitive as a result. Retailers and CPG brands betting on a return to pre-pandemic spending patterns are building strategies on a false foundation. The consumer base that fuels growth now operates from a position of employment insecurity that shapes everything from category trading-down to reduced experimentation with premium offerings.