Advisor and research fellow, Consumer Finance Institute
21 June ’22
This report shares findings from Wave 12 of a national consumer survey investigating the effects of COVID-19 on employment and income data, including employment during the crisis, changes in income at over the past three years and financial security over the next three to 12 months. .
Results collected during the 12th COVID-19 consumer survey in April 2022 reveal that measures relating to employment, income and financial concerns have resumed steady improvement since the start of 2021.
Although the source of this general shift in perspective is unclear, improvements are being seen in nearly every segment we track. Reported job losses among respondents reached the lowest percentage since the start of the pandemic in April 2020, and nearly all demographic cohorts reported stable or improving job losses from Wave 11. The rate of on-site work and normal or increased working hours increased in wave 12. Respondents are more optimistic about their future income than they were at the same time last year, predicting that their annual income would be higher than the previous year. The proportion of respondents expressing concern about making ends meet dropped significantly in Wave 12, almost back to the lowest reported rate we saw in April 2021. More details are available in the report complete.