US consumer confidence rose in June to its highest level since January 2022, though consumers remain concerned about a possible recession, The Conference Board reported today. Its Consumer Conference Index now stands at 109.7 (1985=100), up from 102.5 in May.

“Consumer confidence improved in June to its highest level since January 2022, reflecting improved current conditions and a pop in expectations,” said Dana Peterson, chief economist at The Conference Board. “Greater confidence was most evident among consumers under age 35, and consumers earning incomes over $35,000. Nonetheless, the expectations gauge continued to signal consumers anticipating a recession at some point over the next six to 12 months.”

The June report found that 69.3% of consumers think the perceived likelihood of a recession over the next 12 Months is “somewhat” or “very” likely. However, that is down from 73.2% in May.

The report’s survey also found the spread between consumers saying jobs are “plentiful” versus “not so plentiful” widened, indicating upbeat feelings about a labor market that continues to outperform, Peterson said. Likewise, expectations for the next six months improved materially, reflecting greater confidence about future business conditions and job availability.

In June, 46.8% of consumers said jobs at the present time were plentiful, up from 43.3% in May. Conversely, 12.4% of consumers said jobs were hard to get, down from 12.6% in the prior month’s survey.

Consumers were also more upbeat about the short-term labor market outlook in the next six months, with 15.5% anticipating more jobs to be available, up from 13.8% in May. In addition, 16.0% anticipate fewer jobs ahead, down from 21.1% in May.