Consumer Confidence Remains High for September

Rebounding slightly in September, US Manufacturing continues to maintain the mildly positive pace that it’s been on all year.  Obviously, certain industries are doing better that others, but consumer confidence continues to rise.  Lynn Franco, Director of Economic Indicators at The Conference Board said recently, “Consumer confidence increased in September for a second consecutive month and is now at its highest level since the recession.” She also said, “Consumers’ assessment of present-day conditions improved, primarily the result of a more positive view of the labor market.  Looking ahead, consumers are more upbeat about the short-term employment outlook, but somewhat neutral about business conditions and income prospects.  Overall, consumers continue to rate current conditions favorably and foresee moderate economic expansion in the months ahead.” This adds stress to companies who need to add engineering or leadership talent to grow their businesses and replace retiring baby boomers.  The process attracting top talent to consider making a job change gets harder every day.  A recent survey by the Pew Research Center found that “the vast majority of Americans are happy with their jobs, and that workers are also holding onto their jobs longer than in the past.  Their data shows that the share of folks who’ve been with their current employer for at least five years rose to 51% in 2014, up from 46% in 1996.” The Pew report also showed that “the changing economy has left many Americans feeling left behind.  This is particularly true of those without college degrees, the so-called working class who make up the base of Donald Trump’s support.  The number of workers in occupations requiring average to above-average education, training and experience jumped 68% between 1980 and 2015.”


Bruce Peacock
Vice President of Business Development
The Richmond Group USA