Global trust in the financial services sector has reached an all-time high at 65%, an average six-percentage point increase from January, according to the 2020 Edelman Trust Barometer report.

The special report on financial services and the pandemic, which included a survey of 13,200 respondents in 11 key markets, also found that financial services employees are most trusting of their employers.

The original survey was conducted in October and November, with an update in April. It found that 10 of the 11 markets have shown an increased level of trust in financial services since January. China held on at the top with a 92% trust index level, an 11% jump from January. India followed at 83%; Saudi Arabia at 73%; and the U.S. climbed five percent to 61%.

Germany had the biggest jump in trust level in financial services with 15%, followed by Canada with 12%. And while France moved up four-percentage-point to 45%, it remained the most distrustful of the sector. Japan, the second most distrustful, dropped four percent to 47%.

Banks also fared well overall in the trust category, gaining five percentage points to 67%. Again, China, India and Saudi Arabia topped the list. Japan declined three percentage points to 52%; France had a six-percentage point gain to 46%, but it remained at the bottom.

Respondents gave life insurance an overall rating of 60% on the trust index, but opinions were mixed. Only four countries – China, India, Saudi Arabia and Mexico – gave it a positive trust level. The U.S., Canada and South Korea graded it neutral, while Japan, the U.K., Germany, and France were below 50% in their trust level for life insurance.

The report found that employees trust their employers to do the right thing. That trust level averaged a respectable 76%, with financial services employees being the most trusting of their employers at 84%, followed by employees in technology (82%); manufacturing (79%); health-care and professional services (tied at 78%); education and telecommunications (tied at 76%); food and beverage (75%) and retail (68%).

However, only 31% of employees overall said their CEOs are meeting demands of the pandemic. That included 36% of financial services employees, 38% of professional services employees and 39% of technology employees.

Sixty-five percent overall would like to see their CEO demonstrate public leadership instead of waiting for the government to act. When asked who they believe was doing an outstanding job meeting the demands placed on them by the pandemic, CEOS ranked last with only 29%. Just ahead were journalist and heads of NGOs, with 31% each. The highest ranking was academicians and scientists with 52%. National government leader came in at 47%, global health authorities at 46% and local government leader at 46%.

Moreover, a majority of respondents indicated that business is not meeting the challenge with an expected level of competence. And only 38% believe business is putting people before profits; 39% believe they are protecting their employees’ financial wellbeing and safeguarding their jobs; and 38% believe business is helping their smaller suppliers and business customers stay in business by extending them credit or giving them more time to pay.

Respondents also were lukewarm in their response to the national government performance during the pandemic. Forty-two percent overall said national government made available medical supplies and good treatment even in the poorest areas. Only 32% of U.S. respondents agreed. Saudi Arabia topped the list with 75%, India followed with 68%, South Korea at 52% and Canada at 51%. Japan was at the bottom of the list at 11%.

On the other hand, 49% of respondents said employers are implementing safety measures to protect workers and customers. Forty-six percent of respondents in the U.S. felt that way, while 74% in China agreed.

Turning to job loss, 80% worry about losing their jobs to automation, globalization, workforce restructuring or an economic downturn. And 56% fear long-term unemployment due to the pandemic. Manufacturing, technology, and financial services employees are most concerned about the impact the pandemic has on their job and how long it will take to find another job.

Further, more than half (56%) are concerned that the pandemic will accelerate the rate at which companies move to replace human workers with AI and robots. More financial services employees (69%) feel that way. Sixty-eight percent of technology employees, 64% of manufacturing and 63% of telecommunications workers agreed.

To increase trust, the report posits that business must join in the fight against the pandemic. In fact, 65% of employees want to see their employers get involved in some way, helping those who are suffering or risking their lives because of the pandemic. They cited actions such as donating needed equipment to hospitals, health-care facilities, and educators; and collaborating with competitors for faster development or more effective responses to the pandemic.

And as for returning to work, a majority of workers (75%) said CEOs should be conservative in their decision to getting back to business as normal, even if it means waiting it out until the virus has been brought under control.

The same can be said for government. Sixty-seven percent said government’s highest priority should be saving as many lives, even if it means the economy will sustain damage and recover more slowly. Respondents believe health-care authorities (32%) should lead in making the decision of when to return to work. That was followed by the national government at 27% and state and local government at 16%.

The online survey included 1,200 respondents each from Canada, China, France, Germany, India, Japan, Mexico, Saudi Arabia, South Korea, the United Kingdom, and the U.S.