Consumer sentiment in November fell to its lowest level since 2022 as the government shutdown became the longest in U.S. history.

In a preliminary reading, the University of Michigan consumer sentiment index fell to 50.3 in October, down from 53.6 the month before, the group announced on Friday. This marks a nearly 30% year-over-year decline, another warning signal for President Donald Trump, who has been facing a slowing labor market.