Unemployment, Consumer Confidence and Spending

February 23, 2010

Underemployed Report Spending 36% Less Than Employed

Gallup's new daily metric estimates that 30 million U.S. workers were underemployed in January

by Jenny Marlar

WASHINGTON, D.C. -- Gallup's daily measure of U.S. employment reveals that 19.9% of the U.S. workforce was underemployed during the month of January, translating to close to 30 million Americans who are working less than their desired capacity. Those who were underemployed reported spending 36% less than those who were employed, $48 per day versus $75 per day.

The Conference Board Consumer Confidence Index® Declines Sharply

February 23, 2010

The Conference Board Consumer Confidence Index®, which had increased in January, declined sharply in February. The Index now stands at 46.0 (1985=100), down from 56.5 in January. The Present Situation Index decreased to 19.4 from 25.2. The Expectations Index declined to 63.8 from 77.3 last month.

Consumer confidence plummets

Index of consumer sentiment falls to an all-time low in February and signals more deterioration ahead.

NEW YORK (CNNMoney.com) -- A key measure of consumer sentiment fell more than expected in February, to the lowest level since its 1967 inception, as Americans remained wary of spending amid the weak economy and rising unemployment.