According to the Washington-based National Retail Federation, holiday sales this 2016 fiscal year are projected to be higher than the 7-year average ever since the recession ended in 2009. U.S unemployment rate is at an 8 year low, sales have been climbing with this year projected to rise to 3.6%. In comparison, the 7-year average since 2009 has been 3.4%. The U.S personal savings rate has fallen to 5.7% of disposable income as of August, down from 6.2% in March. In conjunction with a steady 4.9% unemployment rate, steady job growth, and increasing income levels across the board, have all led NRF Chief Economist Jack Kleinhenz to believe this year will be the a very favorable year for consumer holiday spending indeed.