The Conference Board’s consumer confidence index increased in February, following a modest increase in January. The index rose to a reading of 130.8 (1985=100) from 124.3 in January.

“Consumer confidence improved to its highest level since 2000 (Nov. 2000, 132.6) after a modest increase in January,” said Lynn Franco, director of economic indicators at The Conference Board. “Consumers’ assessment of current conditions was more favorable this month, with the labor force the main driver. Despite the recent stock market volatility, consumers expressed greater optimism about short-term prospects for business and labor market conditions, as well as their financial prospects. Overall, consumers remain quite confident that the economy will continue expanding at a strong pace in the months ahead.”

Consumers’ outlook for the job market was also more positive. The proportion expecting more jobs in the months ahead increased to 21.6% from 18.7%, while those anticipating fewer jobs declined to 11.9% from 12.5%. The number of consumers stating that jobs were “plentiful” rose to 39.4% in February from 37.2% in January while those claiming jobs are “hard to get” decreased to 14.7% from 16.3%.