TransUnion, Chicago, said despite shockwaves felt from the COVID-19 pandemic, the consumer credit market is strongly positioned as many parts of the country prepare to enter new phases of re-opening this summer. The company's Q1 2021 Industry Insights Report found consumers are performing well one year since the pandemic began as serious delinquency rates remain mostly down and loan originations continue to rise from COVID-19 lows. TransUnion said these improvements are occurring against a backdrop of a pandemic that caused one of the greatest shocks in the history of the American economy. In March 2020, the unemployment rate stood at 4.4%. In April 2020, it jumped to 14.7% — the highest reading since 1940. The report noted a consequence of this dramatic rise was a sharp slowdown in loan originations. Some lenders tightened their standards and consumers held back on opening loans in the first months of the pandemic.