US consumer confidence rose in November, boosted by optimism about the labor market and future job availability.  

The Conference Board’s Consumer Confidence Index increased in November to 111.7 (1985=100) from 109.6 in October. The figure was in line with the median estimate in a Bloomberg survey of economists. 

“Consumer confidence continued to improve in November and reached the top of the range that has prevailed over the past two years,” Dana Peterson, chief economist at The Conference Board, said in a statement. 

Peterson noted that November’s increase was mainly driven by more positive consumer assessments of the present situation, particularly regarding the labor market.  

“Compared to October, consumers were also substantially more optimistic about future job availability, which reached its highest level in almost three years. Meanwhile, consumers’ expectations about future business conditions were unchanged, and they were slightly less positive about future income,” Peterson said.  

Consumers’ assessments of the labor market outlook continued to improve, with 21.7% of consumers expecting more jobs to be available, up from 18.4% in October. But 17.8% anticipated fewer jobs, up from 16.2%.  

The share of consumers that said jobs were plentiful fell to 33.4% in November from 34.1% in October; however, those saying jobs were hard to get also declined to 15.2% from 17.6%. The difference between these two — a metric closely followed by economists to gauge the job market — widened for a second month, according to Bloomberg. In addition, a larger share of respondents expect more jobs to be available in the next six months. 

Peterson also noted the proportion of consumers anticipating a recession over the next 12 months fell further in November and was the lowest since the question was first asked in July 2022. Consumers’ assessments of their family’s current financial situation fell slightly, but optimism for their finances over the next six months reached a new high.  

US consumer confidence increased in November to the highest level in more than a year, Bloomberg reported. A gauge of present conditions increased to an eight-month high. The Conference Board’s measure of expectations for the next six months edged to an almost three-year high.  

In a special question about concerns and hopes for 2025, consumers overwhelmingly selected higher prices as their top concern and lower prices as their top wish for the new year; this was true across all income and age groups. That same question found higher taxes, wars and conflict, and social unrest are other major — although less acute — concerns for consumers.  

“Meanwhile, household finances completed the top of consumers’ wish list for 2025, including being able to save more money, paying lower taxes and paying off debt,” The Conference Board stated.