Unemployment Is Hitting Low-Income Households the Most
In April, U.S. unemployment levels reached an ugly milestone. The rate of unemployed workers hit 14.7%, which is the highest level on record since the Great Depression. But initial data from March and early April shows that lower-income households are the ones who have been hurt the most in the course of the recent downturn.
An estimated 39% of workers with a household income under $40,000 lost their jobs in the wake of COVID-19. Among households with an income between $40,000 and $100,000, that figure drops significantly to 19%. And among those with an income above $100,000, only 13% of workers lost jobs.
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Source Fool.com
