Wage growth is coming - just look at what people are spending money on.

Sarah Quinlan, sr. vice president at Mastercard (MA) , points to strong sales of furniture as a sign of growing wages. "When you have that confidence, you see purchases in durable goods," she said, referring to consumer sentiment. "Furniture and furnishings are having an exceptional holiday season - that's really making an investment in your family when you're buying a sofa as opposed to just a throw pillow, for example."

2017 holiday spending is on track to post its best growth since 2010, according to Mastercard SpendingPulse.

Watch More From TheStreet:

More from Video

GE Beats Earnings Estimates and 4 Other Stories You Must Know Friday Morning

GE Beats Earnings Estimates and 4 Other Stories You Must Know Friday Morning

Video: This One Mathematical Concept Can Make You a Millionaire

Video: This One Mathematical Concept Can Make You a Millionaire

AAP Exclusive: Nvidia is Tied to Crypto and That's Bad

AAP Exclusive: Nvidia is Tied to Crypto and That's Bad

Video: Abercrombie & Fitch Shares Surged 57% So Far This Year

Video: Abercrombie & Fitch Shares Surged 57% So Far This Year

Video: Why It's Key to Invest in Stocks Even If You Have Student Loan Debt

Video: Why It's Key to Invest in Stocks Even If You Have Student Loan Debt