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 […]
Tag: 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 […]
Effects of Expired Child Tax Credit Reverberate for Families, Policymakers
When Alina McKnight’s middle daughter was experiencing a lack of motivation and mental health issues during the pandemic, her mother spent a little extra money on a new outfit. In that outfit, she aced an interview for a tutoring gig. “Those two hours after school as a tutor, she’s able […]
Optimism strengthened despite personal income, consumer spending drop-off
Personal income and consumer spending both declined in February as a result of brutal winter weather which shutdown much of the nation during the end of the month, along with a dropoff from stimulus checks from January. The report released from the Bureau of Labor Analysis showed a personal income […]
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 […]
Real Disposable Income Rises Sharply, Driven by One-Time Bonuses
Personal income increased in January, as employer optimism surrounding the recent tax bill made its way to consumers’ wallets. The 0.4% increase in January released Thursday by the Bureau of Economic Analysis exceeded analyst expectations. Disposable personal income, or the money households make after taxes, showed a more dramatic rise […]
Five Things to Watch For in the March Personal Income and Outlays Report
The first 100 days: The time-honored test of whether or not a new president has the ability to advance his agenda in Washington ends on April 29 for the Trump Administration. Love him or hate him, Trump has had an effect on personal income as unemployment drops, consumer confidence soars […]