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Americans Gaining Confidence as Job Market Strengthens: Economy

Bloomberg Businessweek (01/08/15) Victoria Stilwell

The Bloomberg Consumer Comfort Index rose from 42.7 the previous week to 43.6 in the week ended Jan. 4. It is the highest reading since October 2007. Consumer confidence is increasing as fewer people are laid off and more find jobs. Low gas prices and mortgage rates also are influencing consumer optimism. Employers are holding onto seasonal workers as the economy picks up, and the need to keep staff is likely to lift wages.