A new analysis shows employment hasn’t rebounded for poorer workers

Photo: CBS News. Article by Sarah Ewall-Wice. CBS News – February 9, 2021.

People who make less than $30,000 have lost their jobs at higher rates during the pandemic, and struggle to find new ones, a new analysis shows — even as higher earners have seen their job prospects recover.

Employment for lower-wage workers remains 14% below pre-pandemic levels and is trending downward, according to the Federal Reserve Bank of New York analysis, as President Joe Biden and others warn of a so-called “K shaped” recovery where a portion of the American workforce gets left behind even as others see a rebound. Employment for high-wage workers is now slightly above its level from when the pandemic first hit nearly a year ago. […]

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