Americans feel better about jobs now. They're more worried about what's next

Photo: Tima Miroshnichenko/Pexels

WASHINGTON (ABNN) - Consumer confidence remains low as the U.S. economy continues to take hit after hit.

The Conference Board's Consumer Confidence Index decreased in August compared with July.

It comes as consumers remained positive about current business conditions. But according to The Conference Board, consumers were more pessimistic about business conditions and the labor market over the next six months.

More than six in 10 consumers, 61.3%, anticipated higher interest rates over the next 12 months. That is down from 62% in July, but remains high.

Views of the current labor market improved, with 27% of consumers saying jobs were "plentiful," compared with 24.4% in July.

The August Consumer Confidence Survey is important because it helps gauge what people think about the economy. But as oil prices are now on the rise and jobs seemingly become more and more scarce, consumers appear less optimistic about the future.

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