Consumer Headlines: Inflation opinions, latest job numbers, and a prepaid social security card

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Consumer Headlines: December 6, 2024

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ROCHESTER, N.Y. — Consumer sentiment is on the rise, marking its fifth consecutive month of improvement, reaching the highest level since April. However, opinions about the economy’s future are sharply divided along political lines.

While overall sentiment is improving, views on future inflation show a stark contrast between Republicans and Democrats. Democrats fear inflation will rise if former President Trump’s tariffs are implemented, while Republicans believe Trump’s election would lead to a slowdown in inflation.

The latest job numbers reveal 227,000 jobs were added in November, with significant gains in healthcare, leisure and hospitality, and government sectors. Worker pay increased by 0.4% month-over-month. However, unemployment rose slightly to 4.2% from 4.1% in October.

For those receiving Social Security or government benefits on a prepaid card, the Consumer Financial Protection Bureau (CFPB) has taken action against Comerica Bank. The CFPB accuses Comerica of providing poor customer service, including hanging up on 25 million customers and charging unnecessary fees. Comerica, which handles prepaid cards for government benefits, claims it attempted to resolve issues with the CFPB, but the agency ignored their documentation.

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