In Census “Household Pulse Survey” polling from October–November 2020, 24.1 million Hispanic households reported having lost employment income during the pandemic. Some have held on to their jobs but also saw hours and pay reduced.

As a PhD economist who analyzes the issues of liability and damages in labor and employment litigation, John understands how to transform companies’ raw, messy data into meaningful analysis and reliable results that empower informed decision making. John also appreciates the power of harnessing data in running a high-performing organization.

Of those in employment, 21% of adults in Great Britain felt less secure in their job than they did 12 months ago. That figure stood at 27% in June 2021. Six in 10 respondents felt their personal income “had not been impacted” by the pandemic. In January 2021, that proportion was four in 10.

Stimulus payments and improving employment helped kick-start recent growth. Aside from spending on essentials like food and bills, a large portion of funds from the third stimulus payments—which began rolling out in March—went toward paying down personal debt (38%) and savings (25%). This likely helped prime consumers to spend with their cards in the following months.

Employment is 3.1% below pre-pandemic levels and, as such, more Canadians are struggling financially. Only 16.7% of overall respondents named this feature “extremely valuable,” and it isn’t well supported among the Canadian FIs. The ability to set spending limits for debit or credit cards helps users control their spending and budget more effectively.

In an October 2020 poll, Edelman found that 97% of adults in Brazil wanted brands to address key social issues like poverty (58%), pandemic-driven employment challenges (52%), climate change/the environment (51%), and systemic racism, injustice, and discrimination (51%). January 2021 data from market research company Opinion Box revealed similar results.

Last year, 93% of US payers and 95% of US hospitals captured SDOH when interacting with patients, and there’s a diverse set of factors they collect data on—from employment status to food security to substance use.

The youths’ fluctuating income during the pandemic has made it challenging for lenders to verify creditworthiness with the limited data sources they typically use, including existing debt, repayment history, and employment.

This kind of insourcing, according to Jeremy Goldman, eMarketer principal analyst at Insider Intelligence, suggests that “even if agency employment recovers, it may not get to pre-pandemic levels.”. Recovery in the distant future will be uneven as agencies add and shed jobs rapidly to meet their needs.

That dovetails with the Census Bureau’s December polling, where Xers who reported loss of household employment income during the pandemic outnumbered those reporting no such loss, at 34.8 million versus 26.9 million. In the Harris polling from November, nearly half of 35-to-49s said they or someone in their household had lost income at least partially.

Institute for Employment Studies (IES). Local Data Company (LDC). Office for National Statistics (ONS) – UK. PwC UK. The Guardian. Wunderman Thompson Commerce.

In March, NatWest unveiled a free digital advice hub called MentorDigital, which helps SMBs with topics including employment law, health and safety guidelines, and HR. The hub is likely a play for smaller companies that don’t handle these functions internally. Last week, NatWest relaunched its SMB incubator program.

Employment history checkers like EmpInfo, HireRight, and Truework use paycheck and employment history to filter candidates for HR applications. HireVue video interview software analyzes candidates’ facial movements, voice, and word choices to output an employability score. Its system uses AI and machine learning to model high performers within a hiring company.

The COVID-19 vaccine rollout should continue to help reopen and reinvigorate more of the economy, leading to increased employment and sustaining the jump in consumer spending. This could trickle into credit card spending growth like we started seeing in Q1 following last year’s pandemic-induced spending dip.

Last month, England and Wales’ Trades Union Congress called on legislators to urgently regulate how companies use AI at work, citing a report claiming AI is outpacing employment law. The EU is currently considering new rules that would heavily curtail the use of AI for mass surveillance and rating social behavior.

Cardholders can navigate shifts in employment pay periods and unforeseen financial issues, or exercise financial planning and organization skills—all within the app. Fewer missed payments makes for happier customers, and 27.3% of respondents ranked this feature—offered by seven cards—as “extremely valuable.”.

Informal commerce: Latin America’s informal economy has provided a livelihood for families that have been excluded from finding employment in the formal sector. Amid the pandemic, more people began trying to earn extra income by selling items online—most notably on social media.

Is AI taking over the HR department?

From Q1 to Q3 2021, spend will begin to return in nonessential categories as employment rates begin to recover, vaccine distribution accelerates, and the third stimulus hits customers’ bank accounts, though delinquency risk will remain high.

Treasury Secretary Janet Yellen said the US could reach full employment by 2022, and MorningStar analysts projected a rise in consumer spending in 2021 and 2022. This economic improvement should justify issuers increasing credit limits once again, and some already are: Capital One began raising limits for existing customers with prime and subprime credit scores in February.