Jobs

The just released Consumer confidence touched a 17  year high as it appears no one is worried about anything.The percentage of  respondents who think stock market higher over next 3 months moved 3% higher vs  last month.This Consumer confidence metric differs from U of M confidence in that it focuses more on labor market activity.Below find a Chart of  2 of the Labor market   components, Jobs plentiful/Jobs hard to get ratio.This metric touched a multi-year high today as  US labor market continue to look stronger by the month.The red horizontal lines  are Recession period and you can see that as recession ended jobs were hard to come by.Tighter and tighter or stronger and stronger the labor market becomes the more hopeful fed will be  that inflation  is primed to move higher.A tale for another day is that the Euro zone today saw strong labor numbers but weak Inflation ones.

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