July 2025 BLS Employment Report: Real Wage Gains Underpin U.S. Consumption Monthly and year-ending figures show broad, inflation-adjusted growth in average weekly earnings, reinforcing the spending power that supports the economy. Why Real Earnings Matter The jump in the headline unemployment rate from 4.1 % to 4.2 % is statistically negligible. What drives … [Read more...] about July 2025 BLS Employment Reports Real Wage Gains
Consumption
June 2025 PCE Update – U.S. Real Consumption Snapshot
U.S. Real Consumption Snapshot – June 2025 PCE Update Based on Bureau of Economic Analysis tables 2.8.5 and 2.8.4 (real PCE levels and PCE price indexes), the figures below capture the inflation-adjusted growth in spending across goods and services. Percent changes are shown for the latest month (June), year-to-date (YTD), and the most recent 12-month … [Read more...] about June 2025 PCE Update – U.S. Real Consumption Snapshot
Employment‑Driven Consumption: What’s Really Propping Up the Data?
Overall consumption is being sustained by real income growth at the aggregate level, thanks chiefly to continued gains in total employment. On a per‑capita basis, however, households remain cautious: spending per worker is subdued; it’s simply the larger number of workers that keeps the retail figures afloat. None of this is new, which is why recent retail‑sector data came in … [Read more...] about Employment‑Driven Consumption: What’s Really Propping Up the Data?