The unique inflationary pressures on household finances have not abated, especially for Americans with credit scores below 700. These consumers are less likely to have access to short-term lending options to help them weather temporary financial storms.
June Non-Prime Tracker
The past 16 months have been tumultuous for many Americans due, of course, to the COVID-19 pandemic. Everything seemed uncertain, especially when it came to issues such as employment and income. However, summer of 2021 has shown a changing sentiment. As the Non-Prime Tracker illustrates, prime and non-prime American alike, are demonstrating optimism for the future.
The June Non-Prime Tracker survey demonstrated that prime and non-prime Americans feel increasingly stable in their employment status. The data shows that their feelings are returning to pre-COVID levels of stability. Those in the non-prime category especially, feel more secure in their employment than when the pandemic first hit.
Accompanying the feeling of stability in their employment, more people are beginning to invest in their future . It’s important to note, the rates at which these Americans are funding investment accounts has risen dramatically for non-prime American but has ticked up for prime. This change signals that people are feeling more optimistic about the future now that the economy has opened back up.
Americans are also showing optimism toward the direction of the country, surpassing pre-COVID numbers. This indicates that Americans feel confident and secure in the future.
Article By:
Jonathan Walker
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