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Consumers Surprisingly Finding Jobs More Plentiful Again

US DATA
  • Conference Board consumer confidence was softer than expected in January as it fell from an upward revised 109.0 (initial 108.3) to 107.3 (cons 109.0).
  • Part of that was likely on 1-year out consumer inflation expectations firming from 6.6% to 6.8%.
  • However, ahead of payrolls on Friday, the labour market differential saw a second (and perhaps surprise) monthly increase to 36.9, still the highest since September. It came as jobs plentiful increased 1.8pts to 48.2 and jobs hard to get dipped -0.6pts to 11.3.
  • In doing so it supports the recent trend lower in jobless claims, showing little sign of imminent deterioration in the labor market.

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