DailyPay,a provider of a daily pay benefit, released the DailyPay Workforce Index, created to follow trends and changes in four key industries related to the COVID-19 pandemic. The Index is supplemented by additional anonymized data focused on how employees are using the pay they access before a company-scheduled payday.
DailyPay released a DailyPay Workforce Index that analyzes data focused on changes in hourly workers and hours worked across four specific industries — hospitals, call centers, supermarkets and quick service restaurants (QSR). The impact of the COVID-19 pandemic has caused various changes that differ greatly by industry. The Index has identified a few key (fully anonymized) observations. The Index will be refreshed periodically.
Initial insights include:
- Call centers and hospitals are showing the second week of declining number of working employees.
- For supermarkets, the number of working employees remained very high during last week.
- The QSR industry is showing a double-digit decline in the number of employees staffed in the last two weeks.
- On March 22, 18% of all made advances with specified reasons were related to the COVID-19 crisis.
DailyPay says it is starting to see various changes that differ greatly by industry, verifying that while some industries are reducing hours or workforce, others are in fact staffing up to meet demand.