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Maybe they put it poorly, but COVID was a huge windfall for many people. Aside from the stimulus checks (which for many people totaled more than $1800) you had
by mberning 4y ago
Maybe they put it poorly, but COVID was a huge windfall for many people. Aside from the stimulus checks (which for many people totaled more than $1800) you had people taking advantage of PPP "loans", extended and expansive unemployment benefits, eviction moratoriums, student loan forbearance, etc. I personally know people that got laid off due to COVID and made more money sitting on the couch for a year than they ever made in their day job. This glut of money takes time to cycle through the economy, and now the party is over.
- mistrial9 4y agothe lower-middle class job loss in retail and hospitality from COVID are massive. People who depend on that kind of job, have no backup systems generally.
- carlosjobim 4y agoHopefully most of them moved on to better sectors. All jobs that require less skill than retail and hospitality pay better and have better career opportunities.