Economic recovery: one step forward, several steps back – Marketplace

Economic recovery: one step forward, several steps back – Marketplace

In constructive financial information, President-elect Joe Biden introduced his “American Rescue Plan” Thursday — a $1.9 trillion proposal to stabilize the economic system and get COVID-19 beneath management. However pandemic unemployment continues to be a story of two economies. The unemployment charge among the many highest-paid staff is round 5%, whereas the speed amongst low-wage workers is as excessive as 20%. Sustained unemployment may result in elevated homelessness, with one examine predicting homelessness may very well be twice as excessive because it was after…