3 of the biggest economic factors hitting Americans' finances

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Wealth! Host Brad Smith breaks down three of the biggest economic themes impacting American consumers.

First, ADP released new data revealing annual wage increases in June were at their slowest rate in nearly three years.

Next, a new report from ATTOM shows that major expenses on median-priced homes consumed 35% of the average national wage in the second quarter, the highest level since 2007.

Finally, as Americans gear up for their 4th of July celebrations, the American Farm Bureau Federation found that the average cost for a ten-person cookout is $71.22. That figure marks a 5% increase from 2023 and 30% from 2019. Meat prices are especially high, and are up 11% year over year.

Despite the pressures of inflation, Brad Smith notes that the consumer has overall been resilient.

For more expert insight and the latest market action, click here to watch this full episode of Wealth!

This post was written by Melanie Riehl