The Unemployment Rate Is Above 20% for the Lowest-Paid Workers, Fed’s Brainard Says
Share
[aggregation-styles]
CNBC
CNBC
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 uneven, with certain sectors and groups experiencing substantial hardship.”
By Jeff Cox | 13 Jan 2021
RELATED TOPICS:
Clovis, Sanger, Madera, and Bass Lake Will Light the Sky With Fireworks Shows Tonight
Events /
2 days ago
Oil Dips Ahead of Expected OPEC+ Output Increase
Economy /
2 days ago
613 Killed at Gaza Aid Distribution Sites, Near Humanitarian Covoys, Says UN
World /
2 days ago
Fresno County Authorities Investigating Suspicious Death of Transient Man
Crime /
2 days ago
Israeli Military Kills 20 in Gaza as Trump Awaits Hamas Reply to Truce Proposal
World /
2 days ago
Valley Crime Stoppers’ Most Wanted Person of the Day: Rachelle Maria Blanco
Local /
2 days ago
Russia Pounds Kyiv With Largest Drone Attack, Hours After Trump-Putin Call
World /
2 days ago
How Trump’s ‘Big, Beautiful Bill’ Will Make China Great Again
Can you hear it — that loud roar coming from the East? It’s the sound of 1.4 billion Chinese laughing at us.
Thomas L. Friedman
The New Yo...
Opinion /
20 hours ago
Categories
Latest
Videos

Opinion /
20 hours ago
How Trump’s ‘Big, Beautiful Bill’ Will Make China Great Again

Sports /
20 hours ago
What’s Caitlin Clark Worth to the WNBA? A Lot More Than Her $78,066 Salary.

Politics /
2 days ago
Trump to Sign Tax-Cut and Spending Bill in July 4 Ceremony

Events /
2 days ago
Clovis, Sanger, Madera, and Bass Lake Will Light the Sky With Fireworks Shows Tonight

Economy /
2 days ago
Oil Dips Ahead of Expected OPEC+ Output Increase

World /
2 days ago
613 Killed at Gaza Aid Distribution Sites, Near Humanitarian Covoys, Says UN

Crime /
2 days ago
Fresno County Authorities Investigating Suspicious Death of Transient Man

Video /
3 days ago