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> since a lot of the demand for non-white-collar-jobs comes from white collar employees... who are spending money at unprecedented rates.

• coldtea 3y ago
  Many don't have money to spend at any great rate, and inflation doesn't magically make them produce it out of thin air to spend it...
  • dangwhy 3y ago
    Thats the data though. Consumer spending is at all time high.I don't know where they are getting the money.
    • coldtea 3y ago
      Is it inflation adjusted? And even more, purchasing power across a wide range not included in inflation calculations adjusted? Because consumer spending can be at an "all time high" for things that could have been bought much cheaper 5 and 10 years ago, including basics.
      • signatoremo 3y ago
        Of course it’s inflation adjusted. The term is “real consumer spending”. The data reported is not to make the public feel good, but to inform the policies. Politicians can always find a way to spin any number in their favor for sure. The spending has consistently remained high throughout the elevated inflation period, but is projected to go down a little bit. https://www.bankofthewest.com/Wealth-Management/insights/articles/economic-report/a-strong-start-to-consumer-spending-in-2023 https://www.bankofthewest.com/Wealth-Management/insights/art...
    • joshspankit 3y ago
      My uneducated guess is that they are using credit and “now that the pandemic is over we finally feel like we can live again!”
    • pcthrowaway 3y ago
      Groceries have increased in price by 50% in the last year. That "extra spending" is coming from money that might go to savings otherwise