Daily Caller | The Barbie, Beyonce, And Taylor Swift Economic Bump Comes With A Hefty Price
Women’s spending power was an undercurrent that lifted Q3 economic growth. The tidal wave of spending on shimmers and glam began with the Barbie movie, flowed through Beyonce’s Renaissance tour and crashed ashore with Taylor Swift’s Eras tour. But don’t count on that spending boost to prop up the economy much longer; it is simply not sustainable.
The Barbie movie and female-led concert tours contributed 0.7 percentage points to PCE growth and 0.6 percentage points to GDP in Q3, according to analysts. That translated to billions of dollars in economic activity nationally and locally.
Women justified splurging on once-in-a-lifetime experiences as a chance to relive youthful memories or create new ones, but it may also have delivered many an escape from their day-to-day personal and economic realities. The rising cost of living continues to stress Americans out, especially women.
Elevated inflation — driven by massive needless federal spending — caused real wages to fall, leaving workers with a pay cut. Excess pandemic savings have largely been spent down. Women are working multiple jobs to make ends meet at a greater rate than men.
Women need more ways to generate income, especially flexible opportunities for those who balance priorities such as caregiving and health concerns. For this reason, the Biden administration should not… [keep reading]
|
|
