|Dwight Johnston, Vice President and Chief Economist for the California and Nevada Credit Union Leagues|
JOBS, WAGES, CONFIDENCE: THE FUTURE
updated 04/21/14 12:56 PM
Silver Linings for CA, NV
People borrow money for many purposes. Buying a home, remodeling, purchasing a new car, vacations, and weddings come to mind.
But what gives consumers confidence to borrow when the expenditure in mind isn’t absolutely necessary?
It comes down to job security and prospects for higher wages. Job security comes from holding one, or from the sense that other jobs—perhaps even better jobs—are available.