Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The economic recovery from the pandemic is causing uneven outcomes between workers at the top and those at the bottom.
"The overwhelming brunt of the burden of this downturn have been borne by low-wage workers," said Evercore ISI policy economist Ernie Tedeschi, who analyzed the data.The pandemic caused a historic economic collapse earlier this year, ending a decade-long stretch of growth. "If not contained and reversed, the downturn could further widen gaps in economic well-being that the long expansion had made some progress in closing," Powell said. HeThe chart below from Ernie Tedeschi, policy economist at Evercore ISI, starkly illustratesunderway. The data — from the latest Current Population Survey — shows employment among workers earning less than $16 an hour has declined around 27% since the pandemic started. It's still dropping.
Scott Winship, the director of poverty studies at the right-leaning American Enterprise Institute, called the pandemic recession "a double hit" for workers with smaller incomes.
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