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Consumer confidence falls in November on pessimistic jobs outlook

November 24, 2015

The Conference Board’s consumer confidence index for the US fell again in November following a moderate decrease in October, The Conference Board announced today. The index fell to a reading of 90.4 (1985=100), down from a reading of 99.1 in October.

Consumers’ outlook for the labor market was also more pessimistic.

“Consumer confidence retreated in November, following a moderate decrease in October,” said Lynn Franco, director of economic indicators at The Conference Board. “The decline was mainly due to a less favorable view of the job market. Consumers’ appraisal of current business conditions, on the other hand, was mixed. Fewer consumers said conditions had improved, while the proportion saying conditions had deteriorated also declined. Heading into 2016, consumers are cautious about the labor market and expect little change in business conditions.” 

Those stating jobs are “plentiful” decreased to 19.9% from 22.7% who said the same in October, and those claiming jobs are “hard to get” increased to 26.2% from 24.6%. Those anticipating more jobs in the months ahead fell to 11.6% from 14.4%, while those anticipating fewer jobs increased to 18.7% from 16.6%.