Consumer Confidence Index Increases Slightly In July

Americans appear to be regaining confidence in their finances, after losing faith in their money situations in June.

The Conference Board Consumer Confidence Index posted a gain this month, rising to 59.5 from the 57.6 recorded in June. Lynn Franco, director of the Conference Board Consumer Research Center said despite the slight bump, some consumers are wary about the country's unemployment levels.

“Consumer confidence posted a modest gain in July, the result of an improvement in consumers’ short-term outlook," she said. "Consumers’ appraisal of current business and employment conditions, however, was less favorable as concerns about the labor market continue to weigh on consumers’ attitudes. Overall, consumers remain apprehensive about the future, but some of the concern expressed last month has abated.”

The Consumer Confidence Survey found 44.1 percent of respondents think it's hard to get a job, which is an increase from the 43.2 percent who responded similarly in June. Only 5.1 percent of respondents said jobs are plentiful.

Many Americans continue to have difficulty finding employment, which has resulted in lingering debt issues and increased dependency on credit cards for purchases. The May 2011 consumer credit report from the Federal Reserve showed use of revolving credit, such as credit cards, increased 5.1 percent during the month. Individuals who are unable to manage their use of plastic may benefit from speaking with a professional to obtain credit card debt relief.