Consumer Spending and Hiring Both Slipped This Summer

Retail and food services sales fell 0.6% to $763.6 billion in August 2026 (Census Bureau, August 14). That landed alongside July's 23,000 nonfarm payroll drop (BLS, August 7). Consumer spending and hiring — two engines of the U.S. economy — are weakening together, raising pressure on the Fed's September policy decision.