Pandemic job losses are 4 times worse for lowest-paid workers: study - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.More than 35% of all workers in the lowest wage group lost a job through mid-April compared to 9% of workers in the highest-earning group, economists led by Tomaz Cajner of the Federal Reserve Board wrote in aThe study confirms that the weight of the coronavirus pandemic is falling hardest on those least able to bear it.

More than 35% of all workers in the lowest quintile of wage earners were laid off through mid-April, compared to only 9% of all workers in the highest quintile, economists led by Tomaz Cajner of the Federal Reserve Board wrote in a"The employment losses during the Pandemic Recession are disproportionately concentrated among lower wage workers," the economists wrote.

Even as the US economy reopens and some people are able to return to work, the gap between the lowest and highest paid workers persists, according to the study. "By mid-May, employment for workers in the bottom quintile was still depressed by 30 percent," the economists wrote, adding "only about 5 percent of these top earning workers remain out of work through mid-May." Job losses for women were about four percentage points higher than they were for men, according to the report.

This isn't any kind of 'revelation.' Lower-paid workers are easily replaceable later on. And that's only natural and logical.

Yes, because doctors & nurses are still working, accountants & programmers can work from home, but hotel employees & wait staff cannot.

Corporations are still laying people off & have hiring freezes- the unemployment now makes up a good portion of the middle class who make LESS on unemployment. The $600 benefit needs to be extended or you will see bankruptcies, foreclosures etc. They don't care who they destroy

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Phone booth-like tiny room could be an office inside your living room - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Facebook's bad week, inside The Athletic, and Red Bull's reckoning - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I thought he had enough money to get a decent haircut Don't give up Mark!
Source: BusinessInsider - 🏆 729. / 51 Read more »

Americans are turning to hunting during the pandemic, and this couple is helping - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Why? They could read a book. senseless hobbies, trophy hunting must be banned. I hope they will be hunted down soon
Source: BusinessInsider - 🏆 729. / 51 Read more »