Retail sales up in November

It seems the resumption of student debt payments hasn’t had a huge effect.

DB2

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It will take a month or two before those affected notice they’re coming up a little shorter than they used to and alter their spending habits. I suspect they will be spending even through December, and we’ll see the first signs of pullback in January and February.

Pay is up overall, particularly for younger workers who would have student debt. I think the measures of how much pay is up are not well done. It is not just this year but the future for workers is much brighter than when most of the loans were issued.