�y��vlog

Student loan repayments resumed in October, which economists estimated was equal to roughly $70 billion, or around 0.3% of disposable personal income, and could dent spending.

Goldman Sachs estimates that the resumption of payments in full would be equal to roughly $70 billion, or around 0.3% of disposable personal income.

"If we keep adding jobs at the lower end of the wage spectrum, but losing jobs at a higher end, that will lead to a significant slowdown in terms of growth in disposable personal income," said Yelena Shulyatyeva, a senior economist at BNP Paribus in New York.

Researchers cited a 19.4% decline in the S&P 500 index, flat disposable personal income growth and high inflation as factors in the 2022 drop.

The U.S. savings rate as a percentage of disposable personal income rose dramatically, hitting a record 33 percent in April 2020.