Economy

The unemployment rate is above 20% for the lowest-paid workers, Fed’s Brainard says

0


Federal Reserve Board Governor Lael Brainard speaks at the John F. Kennedy School of Government at Harvard University in Cambridge, Massachusetts, U.S., March 1, 2017.

Brian Snyder | Reuters

Unemployment for the lowest-paid workers in the U.S. is above 20%, a figure that Federal Reserve Governor Lael Brainard said underscores the importance of policy help for the economy.

The figure indicates how uneven the recovery has seen since efforts to control the Covid-19 pandemic resulted in the biggest quarterly GDP drop since the Great Depression.

“The damage from COVID-19 is concentrated among already challenged groups,” Brainard said in a speech Wednesday. “The K-shaped recovery remains highly…



Source cnbc.com

Nordstrom, Ethan Allen & more

Previous article

Nordstrom (JWN) shares drop as retailer says holiday sales tumbled 22%

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Economy