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Low-wage workers and workers of color have seen a slower recovery than the rest of the labor force, Fed Chair Jerome Powell said on Monday.
In a speech for the National Community Reinvestment Coalition, Powell highlighted data from an upcoming Federal Reserve survey, showing how low-wage workers and workers of color bore a disproportionate blow from the pandemic’s economic devastation.
For instance, Powell said, 20% of those in the lowest-earning group were still unemployed a year out from February 2020. Among the highest-earners, that number was 6%.
Workers of color and less-educated workers were also more likely details ⇒
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