The #Fed's #SHED survey also finds, even more remarkably, that nearly a quarter of US adults are either 'Unbanked' or 'Underbanked', where 'underbanked' people have a bank account, but still use 'alternative financial services' for liquidity or credit pic.twitter.com/olPKuWUc4H— Satyen Baindur (@Satyen_Baindur) May 31, 2018
— Satyen Baindur (@Satyen_Baindur) May 31, 2018
.@federalreserve’s Survey of Household Economics & Decisionmaking (SHED) conducted in the 4Q of every year. Figure shows adults self-reporting as ‘struggling financially’ in the SHED survey & the @BLS unemployment rate at the same time: pic.twitter.com/KFnhquPgWG— Satyen Baindur (@Satyen_Baindur) May 31, 2018
The SHED report notes the consistency; but the correlation is actually 100%! Since the two measures r arrived at via different surveys, the strong correlation is remarkable in itself, but w other data in SHED survey, also strengthens intuitive inference of a causal connection.— Satyen Baindur (@Satyen_Baindur) May 31, 2018
This is also related, of course, to the #GigEconomy – not just unemployment but tenuousness of employment. SHED survey finds: of those US adults in #GigWork who had Bachelor’s degrees, 37% felt that money from gig work was ‘somewhat’ or ‘very’ important to their family incomes. pic.twitter.com/qcjELzgiFK— Satyen Baindur (@Satyen_Baindur) May 31, 2018
