This comes even as real wages are growing faster for lower-income Americans.
AdvertisementAdvertisementThat comes even as real wages are growing faster for lower-income Americans than those with higher incomes.
But even as lower-income Americans continue to see wage growth outpace inflation, it's not helping them as much as some believed it would.
While most Americans who received salary raises did increase their discretionary spending, Americans are cautious about navigating the economy.
AdvertisementAdvertisementGiven that lower-income Americans are on the whole hurting for cash, this data suggests Americans are bracing up for more economic pain in the coming months.
Persons:
—, Morgan, J.P, It's, they'd, it's
Organizations:
Service, Bureau of Labor Statistics, Workers, Economic Policy Institute, Dallas Fed, of Labor Statistics
Locations:
Morgan