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2 mins read
Americans think they need a six-figure income to feel financially healthy in this economy, survey suggests
Americans say they need to earn $122,000 annually to be financially healthy, per a a Personal Capit…
Hillary Hoffower  Â
3 mins read
Mostly wealthy 'boomerang kids' moved back home during the pandemic, and it's intensifying the wealth gap
Most young adults who moved back home during the pandemic are from high-income families. It's creat…
Hillary Hoffower  Â
2 mins read
The IMF warned of an uneven global recovery. It just got worse.
The IMF raised its growth forecast for advanced economies and lowered its outlook for developing na…
Ben Winck  Â
2 mins read
The US housing boom helped wealthy homeowners the most
Sales of homes worth over $1 million rose 245% in the last year but sales of less expensive homes f…
Ben Winck  Â
2 mins read
The 10 wealthiest American families saw their wealth increase by $136 billion during the pandemic
America's 10 wealthiest billionaire families saw their median wealth grow by 25% in 2020, per a rep…
Hillary Hoffower  Â
7 mins read
The different shapes of recovery: Understanding how quickly and strongly an economy can bounce back after a recession
Economies take on different recovery shapes post-recession. These recoveries are named after letter…
Elizabeth Aldrich  Â
2 mins read
The pandemic reshaped Americans' definition of wealthy
Americans now believe it takes $1.9 million to be considered wealthy, according to a Charles Schwab…
Hillary Hoffower  Â
2 mins read
Low-wage workers and mothers of color lost more in the pandemic economy, Fed Chair Powell says
In remarks on Monday, Jerome Powell said Black and Hispanic workers were more likely to be laid off…
Juliana Kaplan  Â
1 min read
The K-shaped recovery just keeps getting more K-shaped — better for those at the top and worse at the bottom
Overall, Americans of color — particularly Black Americans — have felt the economic fallout more ac…
Juliana Kaplan  Â
2 mins read
Million-dollar luxury home sales are soaring even as many buyers struggle to find a house
Luxury home sales were up 41.6% in the first quarter compared to affordable home sales up by 7%, pe…
Hillary Hoffower  Â
2 mins read
Workers lost $3.7 trillion in earnings during the pandemic. Women and Gen Z saw the biggest losses.
American workers saw the largest losses in earnings during the coronavirus pandemic, a 10.3% declin…
Juliana Kaplan  Â
2 mins read
JPMorgan sees Biden's stimulus cutting unemployment to less than 5% by year end
JPMorgan's David Kelly writes that Biden's stimulus should lead to overshoots on growth and inflati…
Juliana Kaplan  Â
3 mins read
The average homebuyer now needs to offer above asking price
The average house is selling for over asking price, Redfin found, the latest example of the K-shape…
Juliana Kaplan  Â
4 mins read
Americans with more education are optimistic about the economy. The rest aren't.
The K-shaped recovery is evident in consumer confidence surveys. Morning Consult found more educate…
Juliana Kaplan  Â
5 mins read
What a K-shaped recovery means, and how it highlights a nation's economic inequalities
A K-shaped recovery describes an economy on the upswing in a split way: certain industries and indi…
Elizabeth Aldrich  Â
3 mins read
The economic recovery is still K-shaped and it's especially bad for parents and people with student-loan debt
Stimulus checks helped but almost half of low-income Americans are feeling stressed about money, wh…
Madison Hoff,Ayelet Sheffey  Â
2 mins read
Almost all new jobs will be high-paying after Covid and most low-wage workers will have to change careers, McKinsey report says
About 17 million Americans will have to leave their jobs and transition into new ones, McKinsey wro…
Juliana Kaplan  Â
2 mins read
One chart shows how workers making less than $15.30 an hour were hit especially hard during the pandemic
Throughout the pandemic, the recovery has been uneven for different income levels. Billionaires aro…
Juliana Kaplan  Â
4 mins read
Working women are still being disproportionately hurt by the pandemic recession
"The pandemic has created a perfect storm for working women," the National Women's Law Center said …
Juliana Kaplan,Madison Hoff  Â
2 mins read
Over half of the Americans who earn $100,000 or more have boosted savings during the pandemic
Among six-figure earners, 59% increased savings, MagnifyMoney found, versus 28% of those making und…