Unemployment remains stubbornly high, yet pockets of resilience emerge.
The financial services industry saw 21,000 positions added in July. Yet, while financial institutions (FIs) have primarily avoided large scale layoffs and furloughs, many FI employees still feel the job-related impact of the coronavirus — for example, through spouses or family members who have lost their livelihoods. The ripple effect from 2020’s economic downturn has impacted a vast number of households and experts predict a long recovery ahead.
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