America's confidence in the labour market is at an 8-year high

America’s confidence in the labour market has not been higher since the financial crisis.

The Conference Board released its March reading of consumer confidence on Tuesday. The headline index rose more than expected to 96.2 (94 forecast). 

The report also showed that the consumers surveyed who said jobs are “plentiful” rose to the highest level since September 2007.

At the same time, those saying jobs are “hard to get” climbed to an eight-month high. And so while consumers are feeling good about the labour market, some are clearly having a different experience.

Nielsen conducts the monthly survey for the Conference Board.

“Consumers’ assessment of current conditions posted a moderate decline, while expectations regarding the short-term turned more favourable as last month’s turmoil in the financial markets appears to have abated,” said the Conference Board’s Lynn Franco in the release.

“On balance, consumers do not foresee the economy gaining any significant momentum in the near-term, nor do they see it worsening.”

The number of consumers saying business conditions are “good” versus those saying they are “bad” fell. But respondents were more bullish on the short-term outlook.

The March jobs report will be released at 8:30 a.m. ET on Friday. 

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