Cover for the July edition of the PYMNTS Intelligence and Workwhile Wage to Wallet Index. PYMNTS Intelligence reports how 60 million Labor Economy workers are changing their spending, shopping and payment choices.

The $1.7 Trillion Labor Economy Is Shifting

The Labor Economy Follows a Different Consumer Playbook

PYMNTS Intelligence surveyed 2,396 U.S. consumers to see how 60 million Labor Economy workers spend, shop and pay. The results reveal a market pulling back on non-essential purchases and choosing immediate value at checkout.

Inside the July Index

  • Debit is the most-used payment method for 43% of Labor Economy consumers, while credit leads for 16%. One in five hasn’t used a credit card in the past year.
  • Labor Economy households spend 28% less overall and 43% less on nonessential purchases.
  • Forty-six percent spent less on nonessential items during the past year and 32% feel less able to make these purchases than they did a year ago.

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