Family Employment Supports Resumption of Robust Consumer Spending

Written by Richard Hokenson 

Recently released data on Employment Characteristics of Families suggests that current concerns regarding a lull or pause in consumer spending will be followed by the resumption of robust outlays. The number of families with at least one employed member recorded its largest gain in four years (see Chart 1).

Moreover, the proportion of families with at least one unemployed member now nearly matches previous lows (see Chart 2). For families with at least one unemployed member, there was also an uptick in the percentage of those families that also have at least one member who is employed (see Chart 3). Although that is very encouraging, the fact that this proportion is not yet back to previous highs is an indication that the labor market is not yet fully healed.

This update was researched and written by Richard Hokenson, as of April 27 2017