America's upper-income earners are struggling to pay their debts...

 

 

 Now the status of Americans' debt 

Credit-scoring firm VantageScore reports that Americans who make over $150,000 per year are falling behind on their credit-card and auto-loan payments faster than anyone else.

Their delinquency rate has surged nearly 20% over the past two years.

Take a look...

The labor market seems to be cooling off as hiring freezes sweep the jobs market. Planned job cuts were just above 54,000 through September. And total hiring plans for the year are just above 200,000.

Three-month average wage growth was just 4.1% in August, lower than 2022's high of 6.7%.

AI is hitting white-collar positions in the tech sector and elsewhere. Just last week, Amazon (AMZN) made headlines for plans to slash as many as 30,000 jobs.

In other words, debt is rising... and the money used to pay off those debts is getting harder to come by.

That's concerning for an economy that traditionally relies on spending from high-income earners. These mounting pressures are taking a toll on all sides of the consumer-driven economy.

   

 

 Finally, information for fun.....