Morning Consult/Axios Inequality Index: May 2024

Key Takeaways

• The Morning Consult / Axios Inequality Index moved higher again in May, underscoring the extent to which Americans across the income spectrum are experiencing the economy differently as inflation cools.
• Increases in inequality continues to reflect growing divergences in consumer sentiment and financial vulnerability: Despite the recent slow down, higher-income adults are feeling more confident about the economy and their finances.
• Pay loss expectations came down for all income cohorts in May, an encouraging sign for the labor market, while pay losses rose only slightly for the lower income cohort and fell for middle and higher income groups.