A monthly measure of consumer confidence continues to increase on more upbeat assessments of business and labor conditions.

The Conference Board reported its Consumer Confidence Index rose 2.9 points to 122.9 in August.

“Consumers’ more buoyant assessment of present-day conditions was the primary driver of the boost in confidence, with the present situation index continuing to hover at a 16-year-high. Consumers’ short-term expectations were relatively flat, though still optimistic, suggesting that they do not anticipate an acceleration in the pace of economic activity in the months ahead,” said Lynn Franco, director of economic indicators at the Conference Board.

The business membership and research group association bases the index on the results of monthly household surveys. Economists monitor the index because consumer spending accounts for more than two-thirds of economic activity in the country.

For August, the present situation index rose 5.8 points to 151.2, the highest level since the index stood at 151.3 in July 2001.

The proportion of those who responded to the survey upon which the August index was based who described business conditions as “good” rose two points to 34.5 percent. The share of those who called conditions “bad” fell four-tenths of a point to 13.1 percent.

The proportion of consumers who characterized jobs as “plentiful” rose 2.2 points to 35.4 percent. The share of those who said jobs are “hard to get” fell 1.4 points to 17.3 percent.

The expectations index rose a point to 104.

The share of consumers who said they expect business conditions to improve over the next six months fell 2.8 points to 19.6 percent. The proportion of those expecting worsening conditions fell 1.1 points to 7.3 percent.

The share of consumers who expect more jobs to become available in coming months fell 1.4 points to 17.1 percent. The proportion of those who anticipate fewer job openings slipped two-tenths of a point to 13 percent.

Meanwhile, 20.9 percent of consumers surveyed said they expect their incomes to increase, up nine-tenths of a point. The proportion of those who said they anticipate less income fell 1.7 points to 7.8 percent.