Though the overall economy was sluggish in the first quarter, the credit card market expanded as the labor market tightened and wages rose, according to the American Bankers Association’s most recent Credit Card Market Monitor.

The association said that credit card monthly purchase volumes increased 10.1 percent for subprime accounts, 8.9 percent for prime accounts and 9.9 percent for super-prime accounts compared with the same period in 2015. While purchase volumes declined from the fourth quarter of 2015, that post-holiday seasonal decline was smaller than usual.

“Credit card use is increasing in part because labor markets continue to improve,” Jess Sharp, executive director of the association’s card policy council, said in a statement. “Steady reductions in unemployment and faster wage growth have led to an increase in consumer spending.”

The number of new credit card accounts increased 13 percent year-over-year to 83.5 million. The ABA said that increase was driven largely by growth in the prime and subprime risk tiers, which increased 14.2 percent and 26.2 percent year-over-year, respectively. New subprime accounts totaled about 26 million in the first quarter, but remained below the 35 million new accounts in the first quarter of 2008, the ABA noted.

Steady growth in new accounts brought total open credit card accounts to 337 million.

However, the association also said that consumers kept credit card debt at manageable levels during the first quarter. Those account holders who carry a monthly balance, also known as revolvers, rose 1.5 percent to 43.6 percent of all accounts. Credit card credit outstanding as a share of disposable income fell to 5.18 percent, and dormant accounts fell 0.6 percent to 27.5 percent of all accounts. Those account holders who pay their balance in full every month, which the association calls transactors, fell 0.9 percent to 28.8 percent of all accounts.

“While more consumers are using credit cards for short-term financing, the amount of credit card debt they are carrying relative to their disposable income is quite low by historical standards,” Sharp said.

For additional information on the report, visit the ABA’s website.