Fed Report: COVID-19 Hits the Poor Hardest

The Fed released its annual report on the economic well-being of US households today, most of which uses data from 2019. However, they also included a bit of data from 2020 reflecting the COVID-19 economy. They report that 13 percent of adults lost their job, but the pain was very definitely not shared equally:

These job losses were most severe among workers with lower incomes. Thirty-nine percent of people working in February with a household income below $40,000 reported a job loss in March.

Unsurprisingly, this is partly because those with lower incomes are unable to work remotely. “Sixty-three percent of workers with at least a bachelor’s degree worked entirely from home. Among workers with a high school degree or less, 20 percent worked entirely from home, as did 27 percent of workers who have completed some college or an associate degree.”

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REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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