U.S. consumers are still spending, but their paychecks are having a hard time keeping up. The latest Bureau of Economic Analysis (BEA) data, released Friday (March 13), shows that income growth picked up in January and inflation remained relatively contained. Spending continues to outpace income...
A bill introduced in the New York City Council would make the city’s minimum wage the highest in the country, though it would still be below what some consider to be a living wage, The Wall Street Journal reported Thursday (March 12). The bill, which...
The structure of work is shifting as digital platforms connect workers with opportunities in ways that resemble markets more than traditional employment. The Labor Economy is growing through systems that match supply and demand for work, even on an hourly basis, while also reshaping how...
How do Americans feel about the economy right now? That may depend on whether they remember the rise of disco and the fall of parachute pants. The new PYMNTS Consumer Expectations Index (PCEI) from PYMNTS Intelligence looks at how people are feeling about the economy....
Americans’ expectations about their ability to switch jobs is at an all-time low. That’s according to the latest edition of The Federal Reserve Bank of New York’s Center for Microeconomic Data Survey of Consumer Expectations, released Monday (March 9). The survey shows that the mean probability of...
The latest labor market figures delivered an unexpected turn, with payrolls shrinking in February and the unemployment rate ticking higher, raising new questions about whether consumer confidence and spending power can maintain their steadiness. The Employment Situation Summary released Friday (March 6) by the U.S....
Companies in the S&P 500 consumer discretionary sector are lagging behind other sectors in earnings due tohigh costs and soft demand, Bloomberg reported Friday (March 6). While 73% of companies across sectors beat GAAP earnings estimates in the fourth quarter, only 56% of those in...
Wholesale used vehicle prices increased by 4% year over year in February, driven by warmer weather and larger-than-usual tax refunds, Cox Automotive reported Friday (March 6). The company’s Manheim Used Vehicle Value Index (MUVVI) reflected this increase, rising by 0.8% month over month. That’s unusual,...
The latest Federal Reserve Beige Book, released on Wednesday (March 4), describes a U.S. economy advancing at a restrained pace, a finding that corresponds with PYMNTS Intelligence data showing that millions of workers remain employed yet financially unsettled, while still opening their wallets to underpin...