Sometimes it's all in the mind and all about confidence.
In good times, it doesn't mean that everyone making a lot more money, it just means that you are more confident of keeping ur job or finding a new one fast.
So you feel more confident and secured, therefore, dun mind spending more money coz u think u can earn it back later.
In bad times, it doesn't mean that everyone making less, just that not so confident that things will go well.
So you tend to want to save more money than spend more money.
So it's all really up to the individuals. If you confident of making back the $$$, no matter good or bad times, still the same loh.