An annual Census Bureau report showed stunning results in consumer wage growth.
Wages Rebound
This chart from the Census Bureau report shows it all, as overall incomes increased a whopping 5.2%
5.2% That’s Huge!
Two thirds of our economy (Gross Domestic Production) is consumer spending related.
A 5%+ increase on over two thirds of the economic spending and growth is good news.
More Income, More savings
Personal Savings Rate
Happier
Consumer Sentiment on the rebound
Less Debt
Household debt as a % of GDP
Spend More
Recall here our notation of the growth in GDP…
Great news for the economy!
Have a better Economy day!
John A. Kvale CFA, CFP