Wage growth is coming - just look at what people are spending money on.
Sarah Quinlan, sr. vice president at Mastercard (MA) - Get Report , 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:
- Billionaire Ken Fisher: 2017's Stock Market Returns Are Average
- What to Expect From the IPO Market in 2018
- Video: Here's How to Use Bitcoin to Buy Real Estate
- Here's How the S&P 500 Can Rise to 3,000 in 2018