Wednesday, October 31, 2018
New Highs for the Pleasure Index
Are you feeling financial pleasure? The American Institute of CPAs has reported that its pleasure index was up two points from the second quarter to 73.9, setting an all-time record for the seventh quarter in a row. The largest factor is the stock market index, but the big driver was The Job Openings Per Capita Index, the pleasure index’s second largest contributor, which increased 1.1 points over the previous quarter. With 7.1 million job openings for 6.2 million job seekers, the tight labor market saw 3.6 million workers voluntarily leave their jobs in August, the fastest pace in 17 years, according to the Bureau of Labor Statistics.
The other two components of the pleasure index also rose. The AICPA Economic Outlook Index, which captures CPA executives’ expectations in the year ahead for their companies and the U.S. economy, was 3.5 percent higher than the prior year level.
The Real Home Equity Per Capita index, which measures the wealth we have in our homes, was 6.5 percent above the prior year value and 2.1 percent ahead of the previous quarter level. However, it is still 11.6 percent below its record high, set back in 2006.