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.

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.

Is AI taking over the HR department?

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.

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.

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.

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.

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.

Treasury Secretary Janet Yellen told members of Congress on Tuesday that stimulus payments will help the economy recover and estimated that President Biden’s American Rescue Plan may help the labor market return to full employment by next year. Consumers who saved their stimulus payments will come out of the pandemic with substantial cash reservoirs.

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.

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.

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

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.

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.

The “at risk” figure for 40-to-49s rose from 51.7% to 55.3% after the “employment shock” of the pandemic. For 50-to-59s, it rose from 44.2% to 51.0%. In July polling for Northwestern Mutual, 25% of Xers said the pandemic had prompted them to push back their planned retirement age. For some, the pandemic has had the salutary effect of increasing a sense of urgency about saving for retirement.

In Spain, 88% of adults surveyed by Havas Media and ODEC in April wanted companies and brands to be proactive in providing products, and/or deferring payments, after the lockdown ended for those whose employment or economic situation was affected by the coronavirus.

Far below the national average were more rural provinces like Manitoba, Nova Scotia, and Saskatchewan (all three at 23%) as well as New Brunswick (21%), where white-collar jobs represent a lower share of the employment base.

And only 11% would feel comfortable getting the vaccine at their place of employment—a common offering for the yearly flu vaccination. Read More:. Retailers including CVS, Kroger, Walgreens, and Walmart aim to speed up coronavirus vaccine administration. The Digital Health Ecosystem.