It's the animal spirits: some evidence.

It has been a while, since I posted "It's the animal spirits" trying to identify some reasons why the US economy is underachieving in terms of employment and growth. Unfortunately, I was unable to substantiate some of my claims one of which was:
In addition, households curb their optimism for their future income and are intimidated to spend; either they cannot be confident that they will maintain their current job or the unemployed household members cannot be sure that they will be hired in the near future.
David Beckworth on Macro and Other Market Musings: The Ongoing Dereliction of Duty fortunately provides evidence that actually expected household income plays a vital role in the future course of the US economy. Enjoy his post!

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