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Consumers Said More Jobs Will be Available in Six Months


Johnnie Roy Maul ask? “Could this be that Consumers believe that Mr. Donald J. Trump will be President in Six Months?”

Bloomberg News 11:20 AM ET

Consumers were more optimistic about the outlook for the labor market, as 15.1% said more jobs will be available in six months, the most since June 2015
Share of Americans who see their incomes increasing in the next six months fell to 17.1% from 18.5%
A 16.5% share of respondents said they saw an improvement in business conditions in the next six months, down from 17.6%
Buying plans wavered, however, with purchase expectations falling for autos, homes and appliances

Consumer confidence rose in September to the highest level since before the last recession on optimism about the labor market, according to a report from the New York-based Conference Board on Tuesday.

Key Points

Confidence index increased to 104.1 (forecast was 99.0), the highest since August 2007, from a revised 101.8
Present conditions gauge rose to 128.5, also highest since August 2007, from 125.3
Measure of consumer expectations for the next six months climbed to 87.8, highest since October, from 86.1
Share of those who said jobs were plentiful rose to 27.9, highest since July 2007
Big Picture

The survey may bode well for consumer spending, which has cooled after a robust second quarter, reflecting resilient labor market conditions and steady income growth. The assessment of the availability of jobs is consistent with data showing vacancies at a record high nationwide, suggesting that wages could see further gains.

Economist Takeaways

“Consumers are more upbeat about the short-term employment outlook, but somewhat neutral about business conditions and income prospects,” Lynn Franco, director of economic indicators at the Conference Board, said in a statement. “Overall, consumers continue to rate current conditions favorably and foresee moderate economic expansion in the months ahead.”

The Details

Consumers were more optimistic about the outlook for the labor market, as 15.1% said more jobs will be available in six months, the most since June 2015
Share of Americans who see their incomes increasing in the next six months fell to 17.1% from 18.5%
A 16.5% share of respondents said they saw an improvement in business conditions in the next six months, down from 17.6%
Buying plans wavered, however, with purchase expectations falling for autos, homes and appliances

September 28, 2016

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