Institute Insights — 06-28-2026

Summary

• Median deposits for lower-income households remain nearly 70% above 2019 levels despite inflation, driven largely by seasonal tax refunds.
• Younger and lower-income households face potential faster drawdowns in deposits due to rising rent, insurance, & fuel costs.
• Stronger wage growth may refill accounts & support spending longer than expected.
• Small business hiring increased nearly 15% year-over-year in May, marking the strongest reading in over a year.
• Payroll & profitability growth fell in May, suggesting underlying weakness masked by short-term hiring.
• The gasoline shock continues to impact small business spending, particularly for transportation & agriculture firms.
• Small manufacturing firms saw a modest profit boost in May, possibly due to issued tariff refunds.
• Small businesses are increasingly adjusting prices & relying on credit to manage operations as costs mount.
• Utilization rates indicate small businesses still retain some borrowing capacity.
• Self-care has evolved from a niche habit to a mainstream priority, with most Americans actively engaging in practices supporting mental, physical, & emotional wellbeing.
• Wellness spending is expanding to include solutions like GLP-1s, beauty tech, & advanced skincare.
• Prolonged screen time is linked to social media use, mental health risks, content overload, & the growing challenge of misinformation.
• Heavy tech use causes physical issues including musculoskeletal strain, eye problems, hearing damage, & disrupted sleep.
• Constant connectivity drives "technostress," contributing to burnout & prompting policy responses like the right to disconnect.