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That's why they call the economic effects of the pandemic and the recovery K-shaped. Some people are sinking, others are soaring.
by smnrchrds 5y ago
That's why they call the economic effects of the pandemic and the recovery K-shaped. Some people are sinking, others are soaring.
- MattGaiser 5y agoMy understanding of that was that poor people got laid off while rich people just worked from home. In an economy that is reopening with massive demand for labour, how does that hold?
- smnrchrds 5y agoThe data for the current month will take some time to be gathered and published. We have the data for up to April though and it shows that high income workers had fully regained pandemic losses, while low income workers were still much lower. https://www.cnbc.com/2021/05/04/the-covid-recovery-still-has-a-k-shape.html https://www.cnbc.com/2021/05/04/the-covid-recovery-still-has...