U.S. consumer confidence strengthened in November, supported by an improving jobs market and better returns in stocks.

It was reported that the University of Michigan’s final index of consumer sentiment for November rose to 93.7 from October’s final reading of 89.6.

The Michigan survey of follows a dramatic jump in confidence as gauged by the U.S. Conference Board, whose index jumped this month to highs not seen since Sept. 2002.

The University of Michigan survey’s current conditions index rose to 102.5 from 99.9 and the expectations index, a gauge of perceptions about the economy over the next year, rose to 88.1 from 83.0.