COVID-19 Creates Rapid Fluctuations in Hours Worked Across Four Key Industries, According to DailyPay Workforce Index

New Index tracks changes and trends in hourly workforce across Hospitals, Supermarkets, Quick Service Restaurants and Call Centers

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DailyPay

Mar 24, 2020, 09:00 ET

NEW YORK, March 24, 2020 /PRNewswire/ -- DailyPay, the leading provider of the 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. Trends for this week remain to be seen.
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.

"We are 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," said Alexey Nefedov, PhD. Lead Data Scientist at DailyPay. "We know employers are taking every measure to keep their employees safe and healthy, which includes protecting their financial health and we want to help in any way we can."

For more information about DailyPay and how it's supporting financial flexibility amid the COVID-19 outbreak, please contact us at [email protected].

About DailyPay
DailyPay is the leading fintech provider of earned income software. We easily integrate with large companies' payroll and time management systems to give employees control over their pay. OnCon named DailyPay a "Top 25 HR Technology Vendor of 2020." The DailyPay PayEx™ platform demonstrates why by creating simple, powerful ways for employers to effortlessly provide a flexible, frictionless and compliant pay experience. PayEx strengthens the employee-employer bond as the most significant component of the employee experience, leading to increased employee engagement and retention, at no cost to the employer.

DailyPay proudly supports over two million employees at world-class companies across many industries, including Adecco, Berkshire Hathaway and Six Flags. DailyPay is headquartered in New York City with operations located in Minneapolis. For more information, visit dailypay.com/press.

Contact: Sehrish Sayani
Phone: (888) 991-3646
Email: [email protected]
Website: dailypay.com

SOURCE DailyPay