The U.S. economy has been on a job-creation spree. It has already added over 1.2 million private-sector jobs this year – a much faster rate than the pre-pandemic trend. The rapid rate of job creation is both a result of increased consumer spending – and a cause of it. But how can this be?
The relationship between spending and jobs is circular: trends in spending reinforce trends in jobs. Thus, understanding current consumer spending trends can help us see the path forward for job growth.
Based on the Mastercard Economics Institute analysis of the relationship between spending and jobs, this means the job market will continue to hum along, with jobs continuing to grow nationally. As the economy continues to go through this period of uncertainty, it will be critical to track consumer spending and its impact on jobs across regions.
Join this Mastercard webinar to hear from Mastercard Economics Institute and LinkedIn discuss:
Why understanding the outlook for the job market is critical for businesses, financial issuers and governments.
The circular relationship between consumer spending and the path forward for job growth.
The job market by state and which states are positioned to see the highest job growth
The webinar is available on-demand.
Speakers:
