Wage Slip Sparks a $14B Hit to Consumer Spending

Wage to Wallet™ Index: Wage Volatility’s $14B Consumer Spending Gap

A small dip in hourly wages just set off a massive ripple across the Labor Economy™. In the new Wage to Wallet™ Index, a collaboration between PYMNTS Intelligence, WorkWhile and Ingo Payments, new PYMNTS Intelligence data shows how a monthly 0.81% pay drop for 60 million workers cascades into a $14 billion annualized spending pullback and why the pressure may only be beginning.

Inside the November Index
  • A 0.81% wage decline turned into a $14 billion annualized hit to consumer spending.
  • Job security sentiment fell sharply, even as broader confidence held steady.
  • Credit reliance is rising the fastest, and that signals future demand.

Wage to Wallet™

Wage to Wallet Index: Measuring the Labor Economy’s Impact on U.S. Financial and Economic Health
Wage to Wallet™ Index: Measuring the Labor Economy’s Impact on U.S. Financial and Economic Health