Strong US jobs market lifts consumer confidence – Move To America
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Strong US jobs market lifts consumer confidence

ID-100120485Americans are feeling confident about the national economy this year, partly thanks to the strong job market. Employers have added on average about 200,000 jobs each month, and unemployment has maintained at 5 percent, a seven-year low record. According to The Conference Board’s report released earlier this week, consumer confidence index rose to 96.5 this month from 92.6 in November. Confidence increased especially in households headed by someone younger than 35.

The consumer sentiment index also rose to 92.6 in December from 91.3 last month and overall consumer spending is up 7.9 percent from a year ago. The holidays have always been associated with shopping and economic circumstances have been in favor of the consumers this winter. The National Retail Federation anticipates that sales for November and December will be 3.7 percent higher from the same period last year. Shopping at physical stores is still the American’s favorite activity, but online shopping is gaining ground. The number of people purchasing different items from home is up 20 percent.

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