Thanks to Olyvia Ruhlmann for sending this via email 18 hours ago:
Hey Tim!
Hey Tim!
I hope this finds you well! In the face of the COVID-19 pandemic, our nation has taken unprecedented measures to “flatten the curve,” urging people to stay at home and practice social distancing. These measures have ushered in a new quarantine economy, which will have disparate impacts on different occupations, income levels, and geographies.
Apartment List’s latest report reveals the stark differences between the groups of U.S. workers that are most and least exposed to economic strain during this pandemic. This Spring, a disproportionate share of high-earners are working from home while low-income households are more likely to have their income source dry up in an era of social distancing.
Some key findings include:
- We classify workers who are unable to work remotely and are employed in industries deemed “non-essential” to be at high economic risk. In Phoenix these workers comprise 12.9% of the full-time workforce, ranking #12 highest among the nation’s 50 largest metros.
- We find a stark correlation between income and job flexibility. Among workers who earn $100,000 annually or more, 51.7% say they can work remotely, compared to just 15.3 percent of those who earn $25,000 per year or less.
- Parts of the country where the local economy is rooted in the tourism and service sectors are likely to be hit hardest, while knowledge hubs will experience a softer blow.
You may view the full report here.
