Payments News


Pandemic Aid Swelled Savings of the Unemployed, Study Shows. Now They Are Running Low.

“Emergency pandemic relief doubled the savings of unemployed Americans over the spring and summer, but most of that cushion was depleted by the end of August, new research shows. In a study released Friday, economists at the University of Chicago and JPMorgan Chase Institute looked at how economic-relief measures enacted this year, including an extra $600 a week in jobless benefits and one-time $1,200 payments to most households, affected the savings and spending of unemployed workers.”