US Consumers Seek Bargains As Pandemic Employment Picture Looks Bleak

  • The job situation for many U.S. consumers is intensifying deal-seeking, according to GlobalData. More than half of what the firm calls “bargain hunters” are parents with children under 18 and 62% have three or more people in the household. 
  • Around 20% of bargain hunters report taking a pay cut due to the pandemic, while “a further 10% are now unemployed as a direct consequence of the pandemic,” according to an emailed GlobalData report.
  • The U.S. Department of Labor reported on Thursday the number of new jobless claims rose by53,000 week over week to 898,000, the highest since Aug. 22 and, according to Wells Fargo economists, “well above expectations.”

See full story here.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s