The editors of the Wall Street Journal consider our present two track jobs recovery:
Liberals say there is a K-shaped recovery with the wealthy doing well and low-income earners struggling. The more important economic disparity is between states governed by progressives and pragmatic conservatives, with the latter doing much better for average workers.
Some points should be made here. Nearly 35% of Mississippi’s population is black; 26% of Alabama’s is. For comparison 7% of California’s population and 13% of New Jersey’s population is black. A decrease of 8 percentage points translates to a lot of black people thrown out of work. The comparative statistics on prevalence and virulence of COVID-19 for the lockdown states compared to the others do not support the policy, either.
I think there is a “K-shaped recovery” going on but it’s only partially “the wealthy doing well and low-income earners struggling. Where you are, who you are, and what the government policies have been where you are are important, too.
Its a shame it gets framed as rich/poor.
More importantly, the (very) small businessman, very entrepreneurial, is getting slaughtered. Employees are being dropped in 1-5 increments in millions of venues, many permanently. For large corporate this is a crony capitalism wet dream.