UPDATE 1-U.S. consumer confidence highest in over 5 years in June
(Adds details from report)
NEW YORK, June 25 (Reuters) - U.S. consumer confidence jumped in June to its highest level in over five years as Americans were more optimistic about the prospects for the labor market, according to a private sector report released on Tuesday.
The Conference Board, an industry group, said its index of consumer attitudes rose to 81.4 from a downwardly revised 74.3 the month before. It was the highest since January 2008 and beat expectations for 75.4.
May was originally reported as 76.2.
The expectations index rose to 89.5 from 80.6, while the present situation index gained to 69.2 from 64.8.
"Consumers are considerably more positive about current business and labor market conditions than they were at the beginning of the year," Lynn Franco, director of economic indicators at The Conference Board, said in a statement.
"Expectations have also improved considerably over the past several months, suggesting that the pace of growth is unlikely to slow in the short-term, and may even moderately pick up."
While June's assessment of current labor market conditions was somewhat mixed, expectations for the jobs market in the next six months were more encouraging. Those anticipating more jobs rose to 19.6 percent, while respondents expecting fewer jobs fell to 16.1 percent.
But inflation expectations for the coming 12 months rose to 5.5 percent from 5.3 percent.
(Reporting by Leah Schnurr; Editing by Chizu Nomiyama)