Consumer Sentiment Highest Since Nov 2000

[Freddie Stubbs]

NEW YORK (Reuters) - U.S. consumer sentiment enjoyed its biggest one-month jump in more than 11 years in early January, signaling that the economy was likely at a turning point that would lead to better hiring.

The University of Michigan's preliminary reading of consumer sentiment rose to 103.2, the highest since November 2000, before the recession hit three years ago and the economy suffered through a sluggish rebound.

January's reading, up more than 10 points from December's 92.6 level, was the biggest one-month increase since late 1992 and easily surpassed economists' forecasts for a rise to 94.0.

"It's a sign, if anything, that perhaps the labor market improved dramatically in the first couple of weeks of January versus December," said Ian Morris, chief economist at HSBC Securities USA in New York.

more: http://story.news.yahoo.com/news?tmpl=story&cid=568&ncid=749&e=1&u=/nm/20040116/bs_nm/economy_consumers_sentiment_dc

[Whoa_Nelly]

1. Am feeling setimental here...

...for the days when we were economically in the black, unemployment was at an all-time low, we weren't occupying a country whose sovereignty we attacked, and when Americans weren't relegated to "free speech zones".

[mhr]

2. How Does Consumer Sentiment Translate Into Hiring?

These economists can't keep their definitions straight.

Maybe consumer sentiment is up because of all the free credit consolidation offers that found their way to American mailboxes in early January.

[PassingFair]

3. Black is White!

Bad is Good.

Whatever...

[West Coast Democrat]

4. Want Ads still look pretty sparse

If there's new hiring going on somewhere, it's certainly not in my town!

[Mountainman]

5. Go to Amazon.com, very few new jobs posted at this time.

There use to be a whole screen full of new accounting related jobs back in the late 90's for my area. Now it's a good day when 2 or three new postings appear.

[Moderator]

6. Dupe... locking

Please continue here:

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=317070

Thanks!

DU Moderator