US High-Earner Consumer Sentiment Hits Multi-Month Low

Consumer sentiment among Americans earning $100,000 or more has fallen to its lowest level in months. According to tracking by Morning Consult, the percentage of six-figure earners who believe their finances are improving dropped from 45.2% in late summer 2025 to 30.2% in the week ending October 26.

While high earners remain a primary driver of the consumer spending that supports the national economy, the Bank of America Institute reports that spending growth for the highest third of earners has slowed since June. High energy costs and inflation have contributed to this decline, leading half of families earning over $155,600 to now identify as working class.

This shift in economic perception comes as voters in swing states prepare for midterm elections. Higher earners are expressing increasing disenchantment with government economic policy regarding affordability.