Savings rates have jumped to record highs, leaving more cash to spend for the holidays. The trade group forecast a robust 3.6 to 5.2 percent increase in holiday sales, outpacing the five-year average of 3.5 percent. Meanwhile, many families — particularly those with white-collar jobs that can be done remotely — have seen their net worth rise during the pandemic. She says she didn’t think to apply for unemployment, opting instead to spend all of her energy applying for jobs. But work has dried up in her small town, and with it, her hopes of things turning around by the holidays.

Source: Washington Post December 17, 2020 17:07 UTC