There's two parts. A lot of people made a lot more money (from stimulus), and a lot of people have cut their expenses dramatically (because of lockdowns). When

There's two parts. A lot of people made a lot more money (from stimulus), and a lot of people have cut their expenses dramatically (because of lockdowns). When you spend less money, it's a lot easier to forgo making more money. And as you mentioned, it's especially easy when you have more savings.