PRINCETON, NJ — Gallup’s Job Creation Index improved to its best level of 2010 last week, providing at least a few Americans with some much-needed Valentine’s Day cheer. Gallup’s Economic Confidence Index was unchanged, and self-reported consumer spending declined from the prior week and from a year ago.
Job Creation improved to its best level of 2010, reaching +3 — up from 0 last week and -2 a month ago. Job market conditions improved, in terms of both hiring, with 26% of employees reporting that their companies are hiring — up from 24% the prior week — and layoffs, with 23% saying their employers were letting people go, vs. 24% the previous week. While one week may not mark a new trend, last week was the best week for job market conditions so far in 2010.