make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Consumer spending rise could mean more jobs

READ MORE: Consumer spending rise could mean more jobs

People may not be making any more money in their paychecks, but they're starting to shop a little more. Despite stagnant income, consumer spending increased for the fifth consecutive month in February. Experts say that could help many unemployed people find a job. The more people who shop, the more employees retail stores need. More workers means more money back in the economy.

"If income rises of employees they will likely spend more," UNCW economist Woody Hall said. "Sort of a perpetual motion, or if you would, a self-fulfilling prophecy."

There is a down side, though. The increase in spending has been offset by a drop in the amount of household savings.
Still Hall says people are less likely to go into debt to make their purchases than they have been in the past.

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.



The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
Please re-enter the code shown in the image below.