No question that the less well-off -- whether measured by income or education -- are suffering more in this recession. And, for some narrowly defined groups, the recession may be over or never started.
But this is a broad crisis, with surprisingly big, widespread effects.
1/ https://twitter.com/byHeatherLong/status/1294038758724194305">https://twitter.com/byHeather...
But this is a broad crisis, with surprisingly big, widespread effects.
1/ https://twitter.com/byHeatherLong/status/1294038758724194305">https://twitter.com/byHeather...
Employment is down significantly even in the industries that should be more immune. Job losses in work-from-home industries like tech, finance, and professional services are steeper than in the Great Recession.
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Unemployment is up significantly for all education levels. In fact, core unemployment -- which takes out temporary layoffs -- has risen most for people with a college degree.
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The economic effects of this pandemic on better off people and sectors are small relative to the much greater pain everyone else is dealing with -- but large by almost any other standard.
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