A two-track recovery is emerging from the country\u2019s pandemic-driven economic contraction. Some workers, companies and regions show signs of coming out fine or even stronger. The rest are mired in a deep decline with an uncertain path ahead.<\/p>\n
Just months ago, economists were predicting a V-shaped recovery\u2014a rapid rebound from a steep fall\u2014or a U-shaped path\u2014a prolonged downturn before healing began.<\/p>\n
What has developed is more like a K. On the upper arm of the K are well-educated and well-off people, businesses tied to the digital economy or supplying domestic necessities, and regions such as tech-forward Western cities. By and large, they are prospering.<\/p>\n
On the bottom arm are lower-wage workers with fewer credentials, old-line businesses and regions tied to tourism and public gatherings. They can expect to bear years-long scars from the crisis.<\/p>\n
The divergence helps explain the striking disconnect of a stock market and household wealth near record highs, while lines stretch at food banks and applications for jobless benefits continue to grow.<\/p>\n
Read it all<\/a>.<\/p>\n The Covid-19 economy is dealing radically different fates to Americans. Low-wage, service-sector workers face prolonged pain, while many white-collar employees in tech and finance have already bounced back. https:\/\/t.co\/bQ7mafeis0<\/a><\/p>\n — The Wall Street Journal (@WSJ) October 5, 2020<\/a><\/p><\/blockquote>\n \n