U.S. Job Growth Looks Set to Power Record Back-to-School Spending

Last Christmas may have been a let down, but American shoppers are finally warmed up just in time for back-to-school spending.

U.S. outlays this summer will rise 5.1% -- the most in eight years -- as wage gains and near-peak employment translate to higher sales, retail research firm Customer Growth Partners estimates. Americans will spend a record $616 billion this year, accelerating from last year’s growth of 4.5%.