Consumer Spending: Still A Rough Road Ahead?

A recent Gallup poll shows that underemployed spend 36% less than employed. The poll found that nearly 1 out 5 people are “underemployed” in January. Those underemployed spend 36% less than those that are employed. Even IF we saw dramatic improvement in hiring soon, would you expect the “underemployed” number to fall drastically?  If anything it may increase.  Let’s think about this:  as employers now have significant wage pricing power of employees,  those out of work are looking for jobs, willing to take pay cuts or benefit cuts to find one.  This should make you think twice about the market’s currenct expectations for future consumer spending…

 

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