Spending Increased, Income Remained Stagnant

It seems that spending increased in February while incomes remained stagnant. Without employment gains, that's a "rebound" that can't be sustained.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aNAFF6TIVZXc&pos=3

Consumer spending in the U.S. rose in February for a fifth consecutive month, a rebound that will require gains in employment to be sustained.

The 0.3 percent increase in purchases matched the median forecast of economists surveyed by Bloomberg News and followed a 0.4 percent advance in January, Commerce Department figures showed today in Washington. Incomes were unchanged, falling short of expectations as winter storms hurt hiring and hours worked.

So, how does spending increase while incomes remain the same? Easy, households have been spending some of their savings.

Best Buy Co. and Nike Inc., which have reported higher- than-anticipated profits, are among companies that may keep benefitting as the emerging recovery gives Americans the confidence to buy. The pickup in purchases has caused the household savings rate to drop to the lowest level in more than a year, underscoring the need for more jobs to ensure the recovery is maintained.