According to the Conference Board, Consumer Confidence improved in July 2011 to 59.5, up from 57.6 in June 2011. The Board noted consumers’ appraisal of current business and employment conditions remained cautious as concerns about the stagnant labor market continue to weigh on consumers’ attitudes. Overall, consumers remain apprehensive about the future, but some of the concern expressed last month has abated. Consumers’ appraisal of the job market found 44.1% believed jobs are 'hard to get' (up form 43.2% last month), while those stating jobs are 'plentiful' remained unchanged at 5.1%.
Bankrate.com's Financial Security Index for July found an increase in what they term the 'working worried' -- those concerned about their job security. Only 15% considered their jobs secure (down from 20%) while 23% felt less secure about their jobs being around (up from 22% last month).
The US Bureau of Labor Statistics noted its original estimate of 54,000 jobs created in May was overstated and lowered the figure to 25,000. The June job creation estimate was 18,000.
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