July's Consumer Confidence Up As Jobs Remain Plentiful

Among the earliest monthly indicators of the US jobs market is the consumer confidence survey conducted by the Conference Board. July’s survey came out on Tuesday. The Consumer Confidence Index rose smartly this month, with solid gains in both its current conditions and expectations components (chart).

Furthermore, consider the following:

(1) The survey’s “jobs plentiful” series edged up to 46.9% (chart). That’s down from readings of over 50.0% last year, but it remains elevated and suggests that the “job openings” series in the JOLTS report remained very high in June and July.