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.”

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Categories: Business, Labor

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