Upended Understanding

This recession has upended three well-understood economic stories. First, the “Hollowing Out” of middle-income jobs at the expense of high- and low-income jobs has utterly stopped as the pandemic has crushed low-end employment. Second, the idea that metro areas steadily gain population faster than non-metros has been totally inverted. Third, evidence that recessions always hit men harder than women has been shown to be patently untrue in this recession.