Consumers say the economy is terrible — then spend like it isn't
The gap between sentiment surveys and actual spending became the defining puzzle of this expansion. Both numbers are telling the truth.
Lena Fischer
Economic coverage written from the employee and employer perspective at once. Topics include wage growth, hiring and layoff data, labor supply in particular trades, and household costs that determine whether workers can afford to move jobs. Each piece connects a national number to a decision being made inside an ordinary company.
Employment data, wage growth and household costs read for what they mean inside a company: hiring plans, raises and who can afford to quit.
The gap between sentiment surveys and actual spending became the defining puzzle of this expansion. Both numbers are telling the truth.
Lena Fischer
With price growth back near the Federal Reserve's target range and pay gains running ahead of it, 2025 delivered the rare combination workers wait years for.
Lena Fischer