Marketplace · Monday, August 31, 2026
Kathy Bonjansik, chief economist at Nationwide, observes that lower-income households are being disproportionately affected by the weaker labor market and are shifting their spending habits. These households are substituting less expensive goods and potentially cutting back on services to manage their finances.
“The weaker labor market is also having an outsized impact on lower income households.”
“And they are probably substituting for less expensive goods and maybe curtailing services in order to make, you know, ends meet.”