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The Covid recovery still has a K shape

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Cars line up to pick up food boxes at the Athens County Fairgrounds in Athens, Ohio, on Dec. 19, 2020.

BRAD LEE | AFP | Getty Images

The U.S. economy is on the mend. But the unequal — or K-shaped — nature of the recovery persists.

Economic activity is on pace to return to pre-pandemic levels by the summer, buoyed by an increase in vaccinations and government aid. The labor market is showing signs of improvement.

While those gains have been widespread, some groups — especially low-wage workers — continue to struggle.

Employment down 30%

Employment among the bottom third of earners is still down 30% from pre-pandemic levels, according to Opportunity Insights, a joint project between…



Source cnbc.com

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