Quote from Ndubuisi Ekekwe on May 16, 2020, 6:14 PM

Covid-19 will trigger a new age of massive economic dislocation and inequality. Lower-paying jobs were lost during this pandemic than higher-paying jobs.

The economic downturn caused by the pandemic is hitting lower-income Americans much harder than others, according to a new survey by the Federal Reserve. The data show nearly 40% of those with household incomes below $40,000 lost work in March. That compares to just 19% of those earning between $40,000 and $100,000 and 13% of households making over $100,000. CNN reports lower-income workers are more likely to be employed in sectors that are laying off or furloughing staff, such as food services.