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Drudge Retort: The Other Side of the News
Wednesday, September 30, 2020

The economic collapse sparked by the pandemic is triggering the most unequal recession in modern U.S. history, delivering a mild setback for those at or near the top and a depression-like blow for those at the bottom, according to a Washington Post analysis of job losses across the income spectrum. Recessions often hit poorer households harder, but this one is doing so at a scale that is the worst in generations, the analysis shows.

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The recession's inequality is a reflection of the coronavirus itself, which has caused more deaths in low-income communities and severely affected jobs in restaurants, hotels and entertainment venues as Americans try to avoid crowded places to protect their own health and slow the spread of the virus. Jobs in these places typically pay, on average, $17 an hour and were overwhelmingly held by women and people of color.

No other recession in modern history has so pummeled society's most vulnerable. The Great Recession of 2008 and 2009 caused similar job losses across the income spectrum, as Wall Street bankers and other white-collar workers were handed pink slips alongside factory and restaurant workers.

The 2001 recession was more unequal than the Great Recession: After the 9/11 terrorist attacks, travel and tourism jobs vanished and low-wage employment fell 7 percent below the previous year's level, while high earners remained largely unscathed. Yet, even that inequality is a blip compared with what the coronavirus inflicted on low-wage workers this year.

#1 | Posted by tonyroma at 2020-09-30 01:44 PM | Reply

It hasn't completely hit home yet. As Fall then Winter rolls into the NE good luck maintaining outdoor dining. 45,000 furloughed from just iirc American Airlines coming next week.

#2 | Posted by sitzkrieg at 2020-10-01 10:13 AM | Reply

Oh well ...

"It is what it is."

"What have you got to lose?"

#3 | Posted by donnerboy at 2020-10-01 10:51 AM | Reply

Yep, all those rich Dems are crying at home right now about this problem. I'm sure they are all giving up their fortunes to make it right. Oh, right, the Liberal sheep think Dems aren't rich and do everything for the people.

#4 | Posted by humtake at 2020-10-01 12:19 PM | Reply

Stupid post Hummer. The Dems have been trying to get help for regular people. They pushed the $600 unemployment benefits and the stimulus checks. They want to help local jurisdictions,keep public employees working.

The repubs don't want to help regular people, they only want to give no strings loans to businesses that often don't need the money and through the fed,prop up asset prices and bond yields for the well to do.

Rich individuals are not the point. The point is POLICY. Which party's policies help the less affluent and which party's policies help only the wealthy and well connected.

You are not arguing in good faith at all.

You are trolling about things that you know are irrelevant to the actual problem.

---- OFF,---- YOU,I HATE THAT KIND OF LYING --------.

I know you know better, -------.

#5 | Posted by Effeteposer at 2020-10-01 01:47 PM | Reply | Newsworthy 1

"The Covid Recession Is Most Unequal in Modern U.S. History"

That's not a side effect, that was the plan.

- Moscow Mitch.

"It hasn't completely hit home yet. "

30,000 airline employees got pink slips today. Other industries are revving up layoffs as the $600 unemployment boost is running out and spending starts drying up.

#6 | Posted by Nixon at 2020-10-01 03:10 PM | Reply

The economic collapse sparked by the pandemic is triggering the most unequal recession in modern U.S. history,

Politicians aren't known for their problem solving solving skills.

I knew at the beginning they would make matters worse than if they did nothing at all.

#7 | Posted by Ray at 2020-10-01 05:19 PM | Reply

"I knew at the beginning they would make matters worse than if they did nothing at all."

They didn't make matters worse in South Korea... or Germany...

#8 | Posted by snoofy at 2020-10-01 05:22 PM | Reply

"Jobs are roughly half back in the United States"

So much winning!
#MAGA

#9 | Posted by snoofy at 2020-10-01 05:23 PM | Reply

They didn't make matters worse in South Korea... or Germany...

I think you are misinformed.

Riots in South Korea
thediplomat.com

Riots in Berlin?
nypost.com
www.dailymail.co.uk

It's naive to believe politicians care about public health then they do power and privilege.

#10 | Posted by Ray at 2020-10-01 05:38 PM | Reply

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