Each month, Bespoke runs a survey of 1,500 US consumers balanced to census. In the survey, we cover everything you can think of regarding the economy, personal finances, and consumer spending habits. We’ve now been running the monthly survey for more than two years, so we have historical trend data that is extremely valuable, and it only gets more valuable as time passes. All of this data gets packaged into our monthly Bespoke Consumer Pulse Report, which is included as part of our Pulse subscription package that is available for either $39/month or $365/year. We highly recommend trying out the service, as it includes access to model portfolios and additional consumer reports as well. If you’re not yet a Pulse member, click here to start a 30-day free trial now!
Our Consumer Pulse Report has seen some interesting movements relative to the March jobs report. Ahead of the much weaker than expected report, we saw some moderation in full-time employment after seeing some choppiness for the last few months. Similarly, part-time employment has pulled back slightly after seeing series highs in January. As the reported jobless rate nears “full employment” levels, our surveys saw the unemployment rate step up to 8.3% from the relatively low sub-7% level post-election. We would note that there does tend to be an upward bias to the “not employed, looking for work” series in Q1 of the year (March is a common time for the series to increase), but that the current move up does appear unusual even accounting for some seasonality.
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