Envestnet | Yodlee COVID-19 Income and Spending Trends
In addition to the significant public health impacts of the COVID-19 pandemic, the virus has had a profound effect on the financial security of many Americans. Amidst an uncertain economic environment, consumer financial behavior has changed drastically and policymakers, eager to provide vital economic assistance to those who need it most, may not have access to critically-important data that can help inform their actions. Envestnet | Yodlee COVID-19 Income and Spending Trends provides insight into how the current environment is financially impacting Americans.
Insights and analytics can be a very powerful tool in decision-making for businesses, individuals and the government to make informed decisions toward helping us all navigate through this crisis.
See key spending and income trends for Americans and their families.
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Key Insights
Change in Net Employment for Select Sectors
- As the economy reopened, recovery in net employment started in July after reaching the lows in Spring 2020.
FAQs
Protecting the personal information of those who use our services is a top priority for Envestnet | Yodlee.
We adhere to leading industry practices for data security, regulatory compliance, and privacy, and employ systems that monitor and remove all known identifiers from data elements that are collected. We also follow and adhere to applicable laws and industry guidance regarding the use of consumer data, including the newly enacted California Consumer Protection Act (CCPA), which further outlines processes and procedures for handling de-identified data. We are also subject to examination by the U.S. Federal Banking Agencies, per the Bank Service Company Act, for the services provided to U.S. financial institutions. Additionally, we employ proprietary and third-party technical controls, such as encryption, to protect data while it resides on our systems, and further ensure protection of consumer anonymity.
For our data analytics offerings, Envestnet | Yodlee imposes technical, administrative, and contractual measures to protect consumers’ identities, such as prohibiting analytics and insights users from attempting to re-identify any consumer from the data. Importantly, Envestnet | Yodlee does not sell data that identifies consumers. Read More.
Envestnet | Yodlee COVID-19 Income and Spending Trends provides reports on key spending, savings, and income trends for American households during this unprecedented crisis. These trends utilize aggregated and de-identified data to provide a snapshot of trended patterns nationally and regionally. Complete our form to request updated reports. Specifically, the trends include data on these topics:
- Discretionary spending patterns
- Spending trends by type including staples & transportation
- Net employment trends
- Employment impacts by industry
Envestnet | Yodlee COVID-19 Income and Spending Trends utilize de-identified transaction data from a diverse and dynamic set of data from millions of accounts to identify patterns and context to inform spending and income trends. The trends reflect analysis and insights from the Envestnet | Yodlee data analysis team.
We aim to refresh these select reports often. Should you need more current information, please fill out the form.
The economic impact of the Covid-19 pandemic is unprecedented. As policymakers at all levels of government, as well as businesses and individuals, must make decisions in the weeks and months ahead to respond to the crisis, insights and analytics can be an incredibly powerful and informative tool. As the leading provider of these types of financial insights and analytics, Envestnet | Yodlee introduced the COVID-19 Income and Spending Trends to better inform regulators, business leaders, and consumers with the hope that these insights can be useful in making informed decisions towards helping us all navigate through this crisis.
