Consumers' assessment of the job market was mixed. Those saying jobs are “hard to get” edged down to 21.3 percent from 22.8 percent, while those claiming jobs are “plentiful” decreased to 23.2 percent from 24.1 percent in October.
Consumers' expectations for the next six months plummeted in November. Those expecting business conditions to worsen increased to 16.7 percent from 13.9 percent. Those anticipating business conditions to improve declined to 12.4 percent from 14.0 percent.
The outlook for the labor market was also more pessimistic. The percent of consumers expecting more jobs in the months ahead fell to 10.8 percent from 13.3 percent, while those anticipating fewer jobs rose to 23.1 percent from 20.2 percent.
The proportion of consumers expecting their incomes to decrease in the months ahead increased to 11.0 percent from 9.1 percent.
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