The cost of living has risen for leisure and hospitality workers while a hot labor market has spurred salary growth for low-paid workers – but this growth is starting to slow down. Marielle Fabie-Hussey, like many restaurant workers, left her job during the pandemic due to lost hours, burnout, and […]
Personal Income
Five Things to Watch in March’s Personal Income and Outlays Report
The Bureau of Economic Analysis will release tomorrow the latest Personal Income and Outlays report. Economists surveyed by Bloomberg forecast a month-to-month personal income increase by 0.2% compared to 0.3% in February. Here are five things to watch in the March report: The Fed can’t stop growth but it can […]
U.S. households spent considerably less in February after a spending spree in January
Personal consumption expenditures decreased on a month-to-month basis, while wages in the private sector continue to increase Consumers considerably slowed their spending in February, but not enough to deter the Federal Reserve’s plan to continue raising interest rates in the coming months. U.S. households reduced their spending in February to […]
Generation Y doesn’t save, and their debt continues to grow
As interest rates continue to increase credit card debt balances will cause strains to people in their 20s and 30s When the pandemic cut Dominique Bell’s work as an Arizona social worker in half, she had no choice but to spend the federal pandemic aid she received and to run […]
Consumer spending increased, and so did the Fed’s benchmark
The personal consumption expenditures surprisingly rose while consumers increased their spending in January. Consumer spending increased and inflation picked up in January, likely setting the Federal Reserve on course to continue raising interest rates in the months to come in order to reduce pricing pressures. According to estimates released by […]
5 things to watch ahead of the March personal income release
The Bureau of Economic Analysis will release the personal income report from March on Friday, which is expected to show the most promising sign of economic recovery since the onset of the COVID-19 pandemic. Impact of Stimulus Checks The consensus amongst economists anticipates a personal income growth of at least […]
Personal Income, Consumer Spending rise significantly with the help of federal aid
Personal income surged in January as Americans received $600 stimulus checks, leading to new optimism about the nation’s recovery from the pandemic. The monthly report issued by the Bureau of Economic Analysis for January noted a personal income increase of 10%, the second largest on record, was aided by federal […]
U.S. Consumer Spending Is Off To A Soft Start, Personal Income Bounces Back Slightly
Personal spending saw a slight uptick in January, while personal income growth rebounded moderately, showing signs of a cooling economy. The report released by the Commerce Department on Friday showed consumer spending, edged up 0.1 percent in January – far below economists’ projections, who had predicted a gain of 0.3 percent. […]
Hispanic Economic Progress: Surging Faster but Still Behind
When President Trump visited Florida last month, he highlighted one achievement in particular: the economic progress made by Hispanics, a group that has strongly opposed Trump because of his immigration policies. The unemployment rate for Hispanics had hit 4.8 percent in October, a record low, and has remained at about […]
Are Trump’s tax cuts making a difference? Depends who you ask.
Jonell Marty, a fifth-grade teacher in the Minneapolis suburb of Apple Valley, received $60 more in her paycheck on February 5, her first to incorporate the Trump tax cuts. Marty, who has taught for more than three decades, makes $86,000 a year. She is putting the extra $1,440 per year […]