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Report
Job Losses for Younger Workers Recovering Unevenly
This research brief discusses an uneven recovery of jobs for respondents under the age of 36, a situation that is masked by overall improvements in job recovery.
Discussion Paper
How Well Do Survey Self-Reports Align with Administrative Data? The Case of U.S. Consumer Credit Records
This paper assesses how closely consumers’ self-reported credit and debt attributes (such as credit account ownership and balances) align with administrative credit bureau records for mortgages, auto loans, and credit cards. Understanding the contents of one’s credit report can be critical to consumers’ ability to obtain affordable credit and to their ability to manage their finances generally. Surveys often ask respondents to report the types and amounts of credit they have, but it is often difficult or impossible to determine if the reported information is accurate. In this paper, we ...
Report
CFI COVID-19 Survey of Consumers — Relief Programs, Vaccines, and the Effects of the Crisis on Renters and Mortgage Holders
In an effort to gain insights into the impact of COVID-19 on financial security in the U.S., the Consumer Finance Institute at the Federal Reserve Bank of Philadelphia is conducting a series of national surveys of consumers that focus on changes in job status, income levels, and personal financial security. Data presented here represent results from the seventh wave of the survey conducted between January 4 and 15, 2021
Report
The Lingering Economic Effects of COVID-19
Scientists are discovering that some patients infected with COVID-19 suffer from medical issues well after the virus is gone (Mayo Clinic Staff, 2020).
Discussion Paper
How Does Buy Now, Pay Later Affect Customers’ Credit?
In this paper, we explore the relationship between consumers’ use of buy now, pay later (BNPL) and their credit reports. BNPL is a deferred payment tool that allows consumers to split transactions into four payments over six weeks. Unlike many other financial products, it is offered primarily by fintech companies and advertised to consumers as free from fees and credit checks. These providers typically do not report a consumer’s use of BNPL and subsequent repayment behavior to credit bureaus, which makes studies of BNPL users’ credit more challenging. In this analysis, however, we ...
Report
It’s You, Not Me – Survey Data on AI’s Impact on Employees
While the effect of artificial intelligence (AI) on the workplace has received a significant amount of attention in recent years, the nature of that effect on employees and on the job market appears to be mixed among respondents to the LIFE Survey. Generally and across most demographic groups, employed respondents are very likely to disagree that AI is directly affecting their jobs or career opportunities. At the same time, they are very likely to agree that AI is affecting the job market as a whole
Report
Consumer Experiences with Auto, Home, and Renters Insurance Costs in 2024 – Survey Data
In light of increased attention on insurance costs for U.S. consumers, the Consumer Finance Institute (CFI) at the Federal Reserve Bank of Philadelphia conducted a survey of consumers in late 2024 to investigate experiences with price changes, insurance shopping, and the effect of unexpected expenses on insurance holders in the auto, home, and renters markets. In our data, premium cost increases were reported by a wide variety of consumers across the demographic spectrum and across insurance types. Cost increases were not limited to policyholders who filed claims or made changes to their ...
Report
CFI COVID-19 Survey of Consumers — Wave 6 Highlights Increasing Financial Concerns and the Impact of the Pandemic on Education Loan Holders
In an effort to gain insights into the impact of COVID-19 on financial security in the U.S., the Consumer Finance Institute at the Federal Reserve Bank of Philadelphia is conducting a series of national surveys of consumers that focus on changes in job status, income levels, and personal financial security. Data presented here represent results from the sixth wave of the survey conducted between November 4 and 20, 2020