Here’s how Taylor Swift, consumer spending and this puzzling labor market fit together

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Consumers are reluctant to buy houses, but they're happy to spend thousands to see a pop icon.

I remember 2008 well, but not fondly. Often, I would find myself walking around downtown Boston midday, trying to clear my head of the packed red on the screen staring at me from my desk. On several occasions, I would walk into Macy's and buy a tube of lipstick, which was something I found comforting. Considering that every lipstick I own, which is not a small number, is basically the same color, I also found that strange.

The rate of change between 2019 and 2023's annualized figures is well over 200%. Clearly, concert ticket prices have escalated rapidly, a factor that eminent media and entertainment Bank of America analyst Jessica Reif Ehrlich termed "funflation." The average ticket price climbed 26% from 2019 to 2023, according to data from Pollster . Nevertheless, that pales in comparison to the total gross concert revenue ascent. Huge demand and more attendees have driven this sensation.

 

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